Government Approves Major Cabinet Decisions for Infrastructure
The Union Cabinet approved a comprehensive package of projects and schemes worth Rs 39,290 crore on Wednesday. This initiative encompasses various sectors, including aviation, highway infrastructure, and transport modernization. The largest allocation is a Rs 10,000 crore Aviation Turbine Fuel (ATF) Price Stabilisation Fund, aimed at mitigating fluctuations in aviation fuel prices.
Key Allocations in the Package
The ATF Price Stabilisation Fund is designed to provide airlines with more predictable fuel costs, addressing one of their largest operating expenses. In addition to this fund, the Cabinet approved significant infrastructure projects, including an Rs 8,301 crore coastal highway project connecting Rameshwaram, Konark, and Paradip. This project aims to enhance connectivity along the eastern coastline and improve transport links between key coastal regions.
Another major allocation includes Rs 7,597 crore for the four-laning of NH-63 and NH-563 in Telangana. This initiative is expected to boost highway capacity and facilitate better freight and passenger movement within the state. Additionally, the Cabinet sanctioned Rs 5,041 crore for a scheme in Delhi-NCR focused on phasing out old trucks and buses, replacing them with modern BS-VI and other clean-fuel vehicles.
Transport Sector Initiatives
The Delhi-NCR scheme targets over 1.9 lakh trucks and 16,000 buses, offering vehicle owners a range of incentives. These include a 5% interest subvention on vehicle loans, monthly fuel vouchers for five years, and discounts from automobile manufacturers. Vehicle owners must scrap their old vehicles at authorized facilities or sell them outside the NCR before acquiring new or used BS-VI or electric vehicles.
State governments will support this initiative with 100% motor vehicle tax concessions and registration-fee waivers for new vehicles. Used BS-VI vehicles will also qualify for a 50% concession, valid for ten years. Furthermore, the Cabinet approved Rs 4,415 crore for the upgradation of NH-347B in Madhya Pradesh and Rs 3,936 crore for four-laning works on sections of NH-31 and NH-231 in Bihar, both aimed at enhancing road capacity and reducing travel time.
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