More funds for regional rural banks and a booster dose for infrastructure projects were among the key decisions taken by the Centre on Thursday.
For the renewal energy sector, the Cabinet Committee on Economic Affairs (CCEA) approved the creation of an intra-State transmission system in Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra and Rajasthan at an estimated cost of ₹8,548 crore.
The CCEA also agreed on the Road Ministry proposal for six-laning the eastern peripheral expressway in Haryana and Uttar Pradesh at the estimated cost of over ₹7,500 crore.
All these projects are being conceived at a time when the Government wants to increase public spending which can be further leveraged for private investment.
The Cabinet also gave its nod to upgrade 400 railway stations through the ‘Swiss Challenge’ method.
These stations are generally located in metros, major cities, pilgrimage centres, and important tourist destinations across the country.
Capital infusion The Cabinet approved an additional ₹700 crore for the recapitalisation of weak regional rural banks (RRBs) and extended the validity period for the fund infusion to the next fiscal.