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Thursday, 26 May 2016

Capital Goods Policy gets Cabinet nod

Cabinet approves first-ever national capital goods policy to increase production of capital goods to 7,50,000 crore rupees by year 2025; Policy also envisages creation of direct and indirect employment from the current 8.4 million to 30 million; Cabinet also approves five railway infrastructure projects worth over 10,000 crore rupees. 

In a major boost to the railway infrastructure, government has given go ahead to projects worth 11,000 crore rupees. 

Government has also given green signal to national Capital Goods Policy. Aim of this policy is to create 2 crore jobs in the capital goods sector by 2025. 

Policy also envisages creation of direct and indirect employment from the current 8.4 million to 30 million; Cabinet also approves five railway infrastructure projects worth over 10,000 crore rupees. 

In order to boost the railway infrastructure government has given green signal to the projects worth 11,000 crore Rupees. Government has approved doubling of 5 busy railway routes. 

Cabinet has also given approval to the Amendment to The Institutes of Technology Act, 1961 for incorporation of six new IITs. 

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