The Union Cabinet on Wednesday approved over ₹16,000 crore in investments to strengthen India’s dairy and fertiliser sectors and promote digital payments.
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved substantial investments across key sectors, aiming to bolster the rural economy, enhance agricultural productivity, and promote digital transactions. Addressing a press briefing, Information and Broadcasting Minister Ashwini Vaishnaw said the Cabinet has cleared Rs 3,400 crore under the Rashtriya Gokul Mission to increase milk production and enhance the productivity of indigenous cattle breeds. In a separate move, the Cabinet also approved Rs 2,790 crore for a nationwide dairy development programme, aimed at improving infrastructure, ensuring better market linkages, and supporting dairy farmers across the country.
Fertiliser sector enhancement
The Cabinet has greenlit a new brownfield ammonia-urea complex in Namrup, Assam, with an investment of Rs 10,601 crore. Spearheaded by the Brahmaputra Valley Fertilizer Corporation Limited (BVFCL), this project aims to produce 12.7 lakh metric tonnes of urea annually, reducing import dependence and ensuring timely fertilizer availability for farmers in the northeastern region. The project is slated for completion within 48 months.
Promotion of digital transactions
Further, to encourage digital payments, the Cabinet has extended the ‘Incentive Scheme for Promotion of Low-Value BHIM-UPI Transactions (P2M)’ for the financial year 2024-25. With an estimated outlay of Rs 1,500 crore, this scheme targets transactions up to Rs 2,000 for small merchants, aiming to strengthen the digital payment ecosystem and promote financial inclusion.
Greenfield National Highway to boost port connectivity
In a major boost to infrastructure, the Cabinet approved the construction of a 6-lane access-controlled Greenfield High-Speed National Highway to connect JNPA Port (Pagote) with Chowk in Maharashtra, at an investment of ₹4,500 crore. The 29.2-km highway project will be developed on a Build-Operate-Transfer (BOT) basis and is part of the integrated infrastructure push under the PM Gati Shakti National Master Plan.
The highway will provide seamless connectivity between JNPA Port, Navi Mumbai International Airport, the Mumbai-Pune Expressway, and NH-66 (Mumbai-Goa highway). Two tunnels through the Sahayadri range will ensure faster movement for commercial vehicles, bypassing the hilly terrain and urban congestion points like Panvel, Kalamboli, and Palaspe Phata. A statement said the project is expected to enhance freight movement efficiency, reduce travel time, and boost regional development across the Mumbai-Pune belt.