The union cabinet, chaired by Prime Minister Narendra Modi, made many major decisions at its meeting on Tuesday, including the establishment of four semiconductor facilities in Odisha, and expenditures for Andhra Pradesh and Andhra Pradesh and Punjab were Rs 46,000 crore. The proposal for Phase 1B of the Lucknow Metro Project in Uttar Pradesh was also approved and an investment of Rs 5,801 crore was obtained.
Both announcements confirmed early ZEE business news releases.
Here are the key gains from the August 12 Cabinet Meeting:
Odisha, Punjab, Andhra acquires semiconductor units
The additional four semiconductor projects (to bring the total to 10) are part of Narendra Modi’s government’s Indian Semiconductor Mission (ISM), a flagship program designed to build a strong semiconductor and demonstrate a manufacturing ecosystem.
They are estimated to contribute to the center’s “self-reliable India”.
These four projects are called:
- SICSEM
- Mainland India installation
- 3D glass solutions
- Advanced systems in packaging (ASIP) technology
Cumulatively, these four facilities are expected to create jobs for 2,034 skilled professionals and lead to several indirect jobs.
The 10 projects are located in six states and the total expenditure is about Rs 1.6 lakh.
Lucknow Metro Project Phase 1B
The 1B phase of the subway line will be distributed 11.2 kilometers, including 12 stations (7 underground and 5 elevated roads).
After the project is completed, Lucknow will have 34km of active metro routes.
The project aims to integrate key Old Lucknow areas, including:
- Aminabad, Yahiyaganj, Pandeyganj and Chowk
- King George Medical University and other key medical institutions
- Bara Imambara, Chota Imambara, Bhool Bhulaiya, Clock Tower, Rumi Darwaza and other tourist attractions
- Cooking destination
The project is expected to lead to reduced traffic congestion in the city.
Tato-II hydropower project in Shiite Yomi district of Arunachal Pradesh
The project’s expenditure was Rs 81,462 crore, which involved the construction of the Tato-II hydropower project (HEP) in the Shiite district of Arunachal Pradesh, and was also nodded by the cabinet.
The project is expected to be completed within the next 72 months.
With an installation capacity of 700 MW (4 x 175 MW), the project is estimated to produce 2738.06 MU of energy, which generates power set to help improve state supply and help balance the national grid.
The project will be implemented through a joint venture between Northeast Electric Power Corporation (NEEPCO) and the state government. In addition, the centre will expand budget support worth Rs 45.88 crore to build roads, bridges and related transmission lines. Central financial aid will also be provided to account for the equity share of the state.
