Cabinet Greenlights Key Projects to Boost Economy & Infrastructure

Prime Minister Narendra Modi announced the Union Cabinet's approval of several projects, including an incentive scheme for low-value UPI transactions, a greenfield highway project in Maharashtra, and a Brownfield Ammonia-Urea Complex in Assam. These initiatives aim to enhance digital payment adoption, improve connectivity, and bolster urea production.

The Union Cabinet, led by Prime Minister Narendra Modi, has approved significant projects to stimulate the nation's economy and infrastructure. One notable decision is the endorsement of an incentive scheme focused on promoting low-value UPI transactions, aimed at easing digital payments and enhancing the 'ease of living' for citizens. This initiative involves a Rs 1,500 crore scheme where the government will absorb the Merchant Discount Rate for transactions below Rs 2,000.

Additionally, a greenfield highway project spanning 29.219 km from JNPA Port (Pagote) to Chowk in Maharashtra was sanctioned. This infrastructure project aligns with PM Gatishakti's vision, ensuring faster connectivity to and from ports and accelerating growth around Mumbai and Pune.

In another strategic move, the Cabinet approved a new Brownfield Ammonia-Urea Complex at BVFCL, Namrup, Assam. This plant promises to increase domestic urea production, benefiting Northeast and Eastern Indian farmers while creating more employment opportunities and securing fertilizer supply as part of an Aatmanirbhar Bharat initiative.

(With inputs from agencies.)