Cabinet decision on railways will boost infra, reduce congestion: PM Modi

Prime Minister Narendra Modi on Thursday lauded a host of decisions taken by the Union Cabinet and said the approval of railway projects will boost infrastructure and reduce congestion on busy routes and improve commerce as well as connectivity.

The Cabinet chaired by Modi approved six projects of the Ministry of Railways with an estimated cost of nearly Rs 12,343 crore with 100 per cent funding from the central government.

The Cabinet's extension of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) will ensure improved credit access for those in the fisheries sector and boost the creation of related infrastructure, the prime minister said in a post on X.

The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana, which has been approved by the Cabinet will boost the fisheries sector, especially MSMEs associated with the sector, he added.

The government had earlier announced a Rs 6,000-crore scheme in order to formalise the unorganised fisheries sector, facilitate institutional finance to micro and small enterprises (MSMEs) and promote aquaculture insurance.

It also decided to extend the FIDF for another three years up to 2025-26 within the already approved fund of Rs 7,522.48 crore and budgetary support of Rs 939.48 crore.