12 industrial smart cities, potential for 40 lakh jobs: Centre’s mega infra push

Mangalore Today News Network

New Delhi, August 28, 2024: The Union Cabinet has approved the development of 12 industrial smart cities across 10 states, with an estimated total cost of Rs 28,602 crore. The project is expected to attract investments worth Rs 1.52 lakh crore and generate around 9.39 lakh direct jobs, with the potential to create up to 30 lakh indirect jobs.

Making the announcement on Wednesday, Union Minister Ashwini Vaishnaw said that these projects will be implemented across six industrial corridors, including the Amritsar-Kolkata, Delhi-Mumbai, Vizag-Chennai, Hyderabad-Bengaluru, Hyderabad-Nagpur, and Chennai-Bengaluru Industrial Corridors.

"These industrial areas will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerela, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP and Jodhpur-Pali in Rajasthan," a statement by the government said.

Rail infra boost

The Cabinet has also greenlit three major railway infrastructure projects totalling 296 kilometers in length, with an estimated cost of Rs 6,456 crore. These projects will significantly enhance rail connectivity and are expected to stimulate regional development, particularly in districts like Odisha’s Nuapada and Jharkhand’s East Singhbhum.

Expansion of agri infra fund

The Cabinet also announced the expansion of the Agri Infrastructure Fund, initially launched in 2020 with a budget of Rs1 lakh crore. The fund focuses on post-harvest agricultural infrastructure, such as pack houses, cold storage, refrigerated vehicles, and primary processing units.

The expansion will now include integrated secondary processing and the coverage of Component A of the PM-Kusum scheme, providing credit guarantees for these projects. This initiative aims to support farmers in adding value to their products and setting up agri-based industries.

Support for hydro-electric projects in North East

The government further announced equity support of Rs 4,136 crore for the development of hydro-electric projects in the North Eastern states, which have a potential of generating 62 GW of hydro-electricity.

This clean energy initiative is expected to contribute significantly to the nation’s climate goals and bring development to the North Eastern region.