Union Cabinet Approvals
The Union cabinet on Wednesday sanctioned a series of developmental projects, reflecting its commitment to bolster key industries and infrastructure within the country.
Rare Earth Permanent Magnet Scheme
- Budget: ₹7,280 crore
- Beneficiaries: Defence, electronics, and electric vehicle manufacturing industries
- Geopolitical Importance: Highlighted by the US-China dispute, underlining the criticality of rare earths.
- Production Goal: Establishment of 6,000 metric tonnes per annum (MTPA) of integrated rare earth permanent magnet manufacturing in India.
- Implementation Needs:
- Prioritize technology access
- Ensure high-quality processing capabilities
- Uphold ESG (environmental, social, and governance) standards
Pune Metro Expansion
- Budget: ₹9,857.85 crore
- Project Details: Line 4 (Kharadi-Hadapsar-Swargate-Khadakwasla) and Line 4A (Nal Stop-Warje-Manik Baug) under phase-2
- Completion Timeline: Within five years
- Funding: Jointly by the Centre, Maharashtra government, and external agencies
- Ridership Projections:
- 2028: 409,000 daily ridership
- 2038: Nearly 700,000
- 2048: 963,000
- 2058: More than 1.17 million
Railway Projects
- Projects Approved:
- Doubling of Devbhumi Dwarka (Okha)-Kanalus railway line in Gujarat
- Third and fourth line of Badlapur-Karjat section in Maharashtra
- Total Cost: Approximately ₹2,781 crore
- Key Benefits: Enhanced connectivity to Dwarkadhish temple and development of the Saurashtra region
Multiplier Effect: The initiatives are expected to significantly benefit upstream industries in defence, electronics, and electric vehicle manufacturing, according to Minister Ashwini Vaishnaw.
