Govt approves Rs 16,000 crore boost for dairy, fertiliser, and digital payment sectors | Key decisions

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Fertiliser sector enhancement

The Cabinet has greenlit a new brownfield ammonia-urea complex in Namrup, Assam, with an investment of Rs 10,601 crore. Spearheaded by the Brahmaputra Valley Fertilizer Corporation Limited (BVFCL), this project aims to produce 12.7 lakh metric tonnes of urea annually, reducing import dependence and ensuring timely fertilizer availability for farmers in the northeastern region. The project is slated for completion within 48 months. 

Promotion of digital transactions

Further, to encourage digital payments, the Cabinet has extended the 'Incentive Scheme for Promotion of Low-Value BHIM-UPI Transactions (P2M)' for the financial year 2024-25. With an estimated outlay of Rs 1,500 crore, this scheme targets transactions up to Rs 2,000 for small merchants, aiming to strengthen the digital payment ecosystem and promote financial inclusion. 

Greenfield National Highway to boost port connectivity

In a major boost to infrastructure, the Cabinet approved the construction of a 6-lane access-controlled Greenfield High-Speed National Highway to connect JNPA Port (Pagote) with Chowk in Maharashtra, at an investment of ₹4,500 crore. The 29.2-km highway project will be developed on a Build-Operate-Transfer (BOT) basis and is part of the integrated infrastructure push under the PM Gati Shakti National Master Plan.

The highway will provide seamless connectivity between JNPA Port, Navi Mumbai International Airport, the Mumbai-Pune Expressway, and NH-66 (Mumbai-Goa highway). Two tunnels through the Sahayadri range will ensure faster movement for commercial vehicles, bypassing the hilly terrain and urban congestion points like Panvel, Kalamboli, and Palaspe Phata. A statement said the project is expected to enhance freight movement efficiency, reduce travel time, and boost regional development across the Mumbai-Pune belt.