Cabinet Clears ₹12,328-Crore Railway Projects, Extends PM SVANidhi Scheme to 2030
Image via ianslive.in
New Delhi, Aug 27 (TTP): Prime Minister Narendra Modi on Wednesday announced a significant Cabinet decision approving four new railway projects worth ₹12,328 crore, aimed at boosting connectivity, reducing logistics costs, and enabling sustainable transport.
The projects cover 13 districts across Gujarat, Karnataka, Telangana, Bihar, and Assam, and will expand India’s rail network by 565 km. The four projects include:
- Deshalpar–Hajipir–Luna and Vayor–Lakhpat New Line (Gujarat)
- Secunderabad (Sanathnagar)–Wadi 3rd and 4th Line (Telangana & Karnataka)
- Bhagalpur–Jamalpur 3rd Line (Bihar)
- Furkating–New Tinsukia Doubling (Assam)
“These projects will not only improve connectivity but also reduce travel time, logistics costs, and dependence on oil imports while cutting carbon emissions,” the Prime Minister noted.
Rail Expansion for Growth and Sustainability
The Cabinet emphasised that the projects will bring better passenger services and faster freight movement, supporting India’s growing economy.
- Regional Benefits: The Kutch line in Gujarat will improve accessibility to remote areas, while doubling and multi-tracking across Telangana, Karnataka, Bihar, and Assam will decongest busy corridors.
- Economic Impact: Lower logistics costs will strengthen trade competitiveness.
- Environmental Gains: The shift from road to rail transport will reduce CO2 emissions, aligning with India’s sustainability goals.
PM SVANidhi Scheme Extended to 2030
Alongside railway expansion, the Union Cabinet also approved the restructuring and extension of the Prime Minister Street Vendors’ AtmaNirbhar Nidhi (PM SVANidhi) Scheme until March 31, 2030.
With an outlay of ₹7,332 crore, the revamped scheme aims to benefit 1.15 crore beneficiaries, including 50 lakh new entrants, by expanding its reach beyond statutory towns to census towns and peri-urban areas.
On X (formerly Twitter), PM Modi said, “We are committed to making our street vendor brothers and sisters across the country self-reliant. I am confident this will bring significant change in their lives.”
Key Features of the Restructured PM SVANidhi
The restructured scheme brings a host of new features designed to enhance financial inclusion:
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Enhanced Loan Amounts:
- First tranche loans increased to ₹15,000 (earlier ₹10,000).
- Second tranche loans increased to ₹25,000 (earlier ₹20,000).
- Third tranche remains ₹50,000.
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Digital Empowerment:
- Provision of UPI-linked RuPay Credit Cards for vendors who repay their second loan.
- Cashback incentives for digital transactions in both retail and wholesale trade.
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Wider Coverage: Gradual expansion to census towns, peri-urban areas, and smaller habitations.
The Ministry of Housing and Urban Affairs will oversee implementation, while the Department of Financial Services (DFS) will coordinate with banks and financial institutions to ensure credit access.
Twin Decisions with Wide Impact
The dual Cabinet decisions—massive rail infrastructure investments and the extension of PM SVANidhi—signal the government’s push for both hard infrastructure growth and grassroots empowerment.
- For the economy: Faster transport networks will lower costs and boost trade.
- For society: Street vendors, one of the most vulnerable urban groups, will gain access to structured credit and digital financial tools.
Together, these measures underline the government’s strategy of inclusive growth, linking large-scale infrastructure with livelihood security at the grassroots.
Final Thoughts from TheTrendingPeople.com
Wednesday’s Cabinet decisions demonstrate the Modi government’s dual focus: building next-gen infrastructure to power India’s economic rise, while ensuring that street vendors and small entrepreneurs are not left behind in the growth story.
The ₹12,328-crore railway projects will knit together distant regions, reduce costs, and cut emissions, while the extended PM SVANidhi scheme will provide millions of vendors a chance to grow, digitize, and sustain their businesses.
As India builds high-speed corridors and green infrastructure, the message is clear: growth must be inclusive, sustainable, and people-centered.