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Several Landmark Decisions Taken By Union Cabinet To Boost Infrastructures

News Desk: The Union Cabinet chaired by Prime Minister Shri Narendra Modi on June 24, 2020, took several landmark decisions. This will go a long way and will provide a much-needed boost to infrastructure across sectors, which are crucial in the time of the pandemic. The following are the landmark decisions taken:

  • Animal Husbandry Infrastructure Development Fund set-up

In pursuance of recently announced Atma Nirbhar Bharat Abhiyan stimulus package, Cabinet today approved setting up of Animal Husbandry Infrastructure Development Fund (AHIDF) amounting to ₹ 15,000 Crore.

The government had earlier approved the Dairy Infrastructure Development Fund (DIDF) worth ₹ 10,000 crores for incentivizing investment by the cooperative sector for the development of dairy infrastructure.

The AHIDF approved today would incentive infrastructure investments in dairy, meat processing, and animal feed plants. The eligible beneficiaries under the Scheme would be Farmer Producer Organizations (FPOs), MSMEs, Section 8 Companies, Private Companies, and individual entrepreneurs.

There is huge potential waiting to be unlocked through private sector investment in the animal husbandry sector. The AHIDF with the interest subvention scheme for private investors will ensure the availability of capital to meet upfront investment required for these projects and also help enhance overall returns, payback for investors. Such investments in processing and value addition infrastructure by eligible beneficiaries would also promote exports. The measures approved today through AHIDF would also help in direct and indirect livelihood creation for about 35 lakh persons.

  • Declaration of Kushinagar Airport in UP as International Airport

Kushinagar is an important Buddhist pilgrimage site, where Gautama Buddha attained Mahaparinirvana. It is regarded as a very sacred Buddhist pilgrimage centre where Buddhist pilgrims from all over the world come for pilgrimage. Kushinagar is dotted with several other Buddhist sites in nearby surroundings like Sravasti(238km), Kapilvastu(190km), and Lumbini(195km) which makes it an attraction for both followers and visitors alike. Union Cabinet has approved the proposal to declare Kushinagar Airport in Uttar Pradesh as an International Airport.

The Buddhist Circuit is a key pilgrimage destination for 530 million practicing Buddhists across the globe. Hence the declaration of Kushinagar Airport as an ‘International Airport’ will offer improved connectivity, a wider choice of services at competitive costs to the air-travelers resulting in boosting domestic and international tourism.

  • Additional investment by OVL towards further development of Shwe oil & gas project in Myanmar approved

ONGC Videsh Limited (OVL) has been associated with the exploration and development of Shwe gas project in Myanmar since 2002, as part of a consortium of companies from South Korea, India and Myanmar. The Indian PSU, GAIL, is also a co-investor in this project. OVL has invested about Rs 3,949 crores till March 31, 2019, in this project. The first gas from Shwe Project was received in July 2013 and plateau production was reached in December 2014.

The participation of Indian PSUs in oil & gas exploration and development projects in neighboring countries is aligned with India’s Act East Policy, and also part of India’s strategy to develop Energy Bridges with its neighbors in addition to further strengthening India’s energy security needs.

Image Source: Internet

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Written by admin

A multimedia journalist based out of Guwahati, covering public policy, healthcare, and social issues.

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