Cabinet clears ₹12,000-cr infrastructure spending

The Cabinet Committee on Economic Affairs (CCEA) has approved projects worth over ₹12,000 crore as the government focused on infra spending to generate jobs and ensure strong economic recovery. The cleared projects include the industrial corridor nodes in Andhra Pradesh and Karnataka along the Chennai-Bengaluru Industrial Corridor and multi-modal logistics and transport hubs at Greater Noida. The central government will invest ₹7,725 crore to equip the proposed greenfield industrial cities with road and rail connectivity to ports and logistic hubs along with reliable power and social infrastructure. Union finance minister informed that the government has set a target of ₹100 trillion investment for projects selected under the national infrastructure pipeline over the next five years. While ₹2,139.4 crore will be invested in the Krishnapatnam industrial area in Andhra Pradesh, projects in Tumakuru industrial area in Karnataka will be built at an estimated investment of ₹1,701.8 crore. The multi-modal logistics and transport hubs at Greater Noida will cost ₹3,883.8 crore. The industrial corridor program aims at attaining the objective of creation of an Atmanirbhar Bharat to drive industrial growth and create greater avenues for investments across the country.