Cabinet gives over Rs 19,900 crore boost to infra & strategic sectors—A quick take

Key Decisions at Cabinet Meeting, November 26: The Union Cabinet — the central government’s top decision-making panel — has approved four major projects involving investments of Rs 19,919 crore. The four projects are: Pune Metro Rail Project Phase 2 (Rs 9,858 crore), Rare Earth Permanent Magnet (REPM) incentives (Rs 7,280 crore) and multitracking projects in Maharashtra and Gujarat (Rs 2,781 crore).

Here’s a quick take on the projects approved by the Cabinet:

The second phase of the Metro Rail Project in Pune, Maharashtra, entails the development of metro lines 4 — Kharadi-Hadapsar-Swargate-Khadakwasla — and 4A — Nal Stop-Warje-Manik Baug.

Together, the 31.6-km corridor will feature 28 elevated stations and link key residential, IT, commercial and educational clusters across the eastern, southern and western neighborhoods of the city.

These lines will be built over five years through joint funding by the central and state governments as well as external agencies. Read more

This is a dedicated scheme aimed at promoting the domestic production of rare earth permanent magnets (REPM) — materials critical to several industries, including EVs and white goods.

Under this scheme, the country will achieve 6,000 MTPA of fully integrated REPM capacity, covering the conversion of rare-earth oxides to metals, alloys and finished magnets.

The REPM scheme seeks to reduce import dependence and position India as a competitive global supplier.

These multitracking railway projects are:

• 141-km doubling of Devbhumi Dwarka (Okha)-Kanalus route
• 32-km third and fourth lines between Badlapur and Karjat

Both projects will expand the Indian Railways’ network by 224 km. Read more