Cabinet Gives Nod For Two New Rail Projects, Rs 1000 Crore For Space Sector Starups: Key Details

The Union Cabinet has approved the construction of a new railway line connecting the Andhra Pradesh's new capital, Amravati. The project involves a substantial investment of Rs 2,245 crore. It aims to enhance regional connectivity and promote economic development in the area.

The newly approved railway line will span 57 kilometres and is designed to strengthen transportation links for both residents and businesses. A key feature of this project includes the construction of a 3.2 km-long railway bridge over the Krishna River, which will further enhance connectivity.

This new line will provide direct rail links between Amravati and major cities such as Hyderabad, Chennai, Kolkata, and Nagpur. Additionally, it will improve transportation routes between Amravati and several important ports, including Masilipatnam, Krishnapatnam, and Kakinada. These enhancements are expected to boost trade and facilitate smoother logistics in the region.

 Approval for Narkatiganj-Muzaffarpur Railway Line

The Cabinet has also greenlit the Narkatiganj-Rexol-Sitamarhi-Darbhanga-Muzaffarpur railway line. Spanning 256 kilometers, this line represents a significant investment of Rs 4,553 crore. The new railway link is expected to play a key role in improving connectivity in Bihar, supporting regional economic growth.

Special Trains for Diwali and Chhath Festivals

In addition to these infrastructure projects, Railway Minister Ashwini Vaishnaw announced that Indian Railways will run 7,000 special trains to accommodate the increased demand during the Diwali and Chhath festivals. These trains are expected to help over 2 lakh passengers travel daily during the festive season, easing the burden on regular services and ensuring smoother journeys for travelers.

VC Fund For Space

The Cabinet has given the green light to establish a Rs 1,000 crore venture capital (VC) fund aimed at supporting startups in the space sector. This fund will provide investments ranging from Rs 10 crore to Rs 60 crore for 30-35 startups. According to Ashwini Vaishnaw, Minister of Information and Broadcasting, over 250 startups are currently operating in India's space industry. He also mentioned that the space economy is projected to reach Rs 3 lakh crore by 2033.