𝗨𝗻𝗶𝗼𝗻 𝗖𝗮𝗯𝗶𝗻𝗲𝘁 𝗔𝗽𝗽𝗿𝗼𝘃𝗲𝘀 𝗥𝘀 𝟯𝟵,𝟮𝟵𝟬 𝗖𝗿𝗼𝗿𝗲 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗔𝗻𝗱 𝗔𝘃𝗶𝗮𝘁𝗶𝗼𝗻 𝗣𝗮𝗰𝗸𝗮𝗴𝗲
The Union Cabinet approved a package of projects worth Rs 39,290 crore on Wednesday. The package covers aviation fuel support, coastal highways, national highway upgrades, and a vehicle replacement program in Delhi-NCR.
The approved projects include:
- ATF Price Stabilisation Fund: Rs 10,000 crore
- Coastal Highway from Rameshwaram to Konark to Paradip: Rs 8,301 crore
- Four-laning of NH-63 and NH-563 in Telangana: Rs 7,597 crore
- Delhi-NCR truck and bus replacement scheme: Rs 5,041 crore
- Upgradation of NH-347B in Madhya Pradesh: Rs 4,415 crore
- Four-laning of NH-31 and NH-231 in Bihar: Rs 3,936 crore
The government created the Rs 10,000 crore ATF Price Stabilisation Fund to reduce sudden price changes in aviation fuel. Airlines face fuel as one of their largest day-to-day costs. The fund gives airlines more price certainty.
The Cabinet approved Rs 8,301 crore for a coastal highway connecting Rameshwaram, Konark, and Paradip. The project improves road links along the eastern coastline.
The Rs 5,041 crore Delhi-NCR scheme targets more than 1.9 lakh trucks and 16,000 buses. It phases out old trucks and buses and replaces them with new BS-VI or electric vehicles. Vehicle owners must scrap old vehicles at approved facilities or sell them outside the NCR region before buying new or used BS-VI or electric vehicles.
Owners receive incentives. These include a 5 percent interest cut on vehicle loans, monthly fuel vouchers for five years from oil marketing companies, and discounts from automobile manufacturers. State governments charge no motor vehicle tax or registration fees for new vehicles. Used BS-VI vehicles get a 50 percent tax break for ten years.
The Cabinet also approved Rs 7,597 crore for four-laning sections of NH-63 and NH-563 in Telangana. This project improves goods and passenger traffic flow.
In Madhya Pradesh, NH-347B received approval for Rs 4,415 crore in upgrades. In Bihar, the Cabinet approved Rs 3,936 crore for four-laning work on NH-31 and NH-231. Both projects improve road capacity and reduce travel time.