The Cabinet, chaired by Prime Minister Narendra Modi, has approved two important railway projects with an estimated total cost of Rs 6798 crore. These projects aim to strengthen railway connectivity in Bihar, Andhra Pradesh, and Telangana, which extends to a total of 313 km. Giving information about these decisions, Union Minister Ashwini Vaishnav said that two major rail projects have been approved.

The government has approved the Amaravati railway line at a cost of Rs 2,245 crore. He said that it will have a 3 km long bridge over the Krishna river. This will provide direct rail connectivity of Amaravati to Hyderabad, Chennai and Kolkata. This project will improve the connectivity of Central and Northern India with Southern India.

19 lakh jobs will be created This line will pass through NTR Vijayawada, Guntur (Andhra Pradesh) and Khammam (Telangana), which will provide necessary connectivity to 168 villages and will provide service to a population of 12 lakh people with 9 new stations. Ashwini Vaishnav said that this will create 19 lakh jobs. This will reduce 6 crore kilograms of carbon emissions.

Doubling of 256 km rail line approved

Giving information about another decision, Ashwini Vaishnav said that the government has approved the doubling of 256 km rail line to connect Bihar with the Northeast. This project will create 87 lakh jobs. This will reduce carbon emissions by 162 crore kg. The Union Minister said that Rs 4,553 crore will be spent on the Bihar project.

This includes doubling of Narkatiaganj-Raxaul-Sitamarhi-Darbhanga and Sitamarhi-Muzaffarpur sections covering a distance of 256 km in Bihar. This will increase connectivity in Nepal, North East and border areas and will promote socio-economic development through facilitating movement of both passenger and freight trains.

Space sector startups Rs 1,000 crore

Apart from this, the government has approved a venture capital fund of Rs 1,000 crore for space sector startups. This fund will be operated by professional fund managers. Its indicative investment range will be Rs 10-60 crore. The government expects a multifold impact from co-investment of private funds.

Ashwini Vaishnav says that private investors may also get an opportunity to invest in the fund. He said that VC funds are expected to promote innovation in satellite technology, launch vehicles and space applications.