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The Union Cabinet has greenlit two major railway projects totaling INR 6,800 crore to enhance connectivity in Andhra Pradesh and Bihar. The Amaravati project (INR 2,245 crore) will connect the new Andhra Pradesh capital to major cities, aiding regional growth and access to key ports. The Bihar initiative (INR 4,543 crore) involves doubling railway lines to strengthen the Indo-Nepal trade corridor, boosting links to religious and cultural sites. Additionally, a new INR 1,000 crore venture capital fund will support space sector start-ups, fostering innovation. These projects signify the government's commitment to infrastructure, economic growth, and cultural accessibility.
The Union Cabinet has recently approved two significant railway projects amounting to nearly INR 6,800 crore in two states governed by BJP allies: Andhra Pradesh and Bihar. The project in Andhra Pradesh focuses on enhancing connectivity for the forthcoming capital, Amaravati, while the initiative in Bihar involves the doubling of a 256-kilometre railway line, aimed at bolstering the trade corridor linking to Nepal. Advertisement
The Amaravati rail project, valued at INR 2,245 crore, will facilitate connections between the new capital of Andhra Pradesh and the rest of India. In contrast, the Bihar project encompasses the doubling of lines across the Narkatiaganj-Raxaul-Sitamarhi-Darbhanga and Sitamarhi-Muzaffarnagar sections, with an estimated cost of INR 4,543 crore. This undertaking will establish a vital trade corridor with Nepal, integrating East Coast ports with Northern India, specifically Gorakhpur and Ayodhya, as well as the Eastern and North-Eastern regions. The government highlighted the religious significance of these projects.
The railways minister indicated that these developments would enhance connectivity in areas of cultural importance, linking the birthplace of Lord Ram in India with Sitamarhi, the birthplace of Devi Sita in Nepal. The Amaravati project, in particular, is expected to coincide with the city's growth. The new rail line will provide direct links to major cities such as Hyderabad, Chennai, and Kolkata, thereby improving access between Central and Northern India and the southern state.
Additionally, the projects are set to enhance accessibility to various religious sites, including the Amaram Swamy Temple, Amaravati Stupa, Dhyana Buddha statue, and Undavalli Caves. The Minister also noted that connectivity to Machilipatnam, Krishnapatnam, and Kakinada ports would be improved, along with plans for a 3-kilometre bridge over the Krishna River. The project completion is anticipated within four years.
Regarding the Bihar railway line, its benefits will primarily serve Uttar Pradesh, while simultaneously enhancing trade connectivity with Nepal. This line will run parallel to the international border with Nepal, playing a crucial role in improving access along the Indo-Nepal trade route. Moreover, it will connect to the Inland Container Depot at Birgunj in Nepal.
In addition, the Cabinet has approved the establishment of an INR 1,000 crore venture capital fund aimed at supporting start-ups in the space sector. This fund is projected to invest in 30 to 35 start-ups over its operational lifespan. Currently valued at INR 70,000 crore, the space sector will see this fund potentially structured as a trustee, fund manager, investment committee, advisory board, or as an Alternative Investment Fund (AIF) in accordance with SEBI guidelines. The Minister stated that the fund will be managed by a professional fund manager.
These initiatives underscore the government's focus on enhancing infrastructure and trade connectivity, thereby promoting economic growth and cultural accessibility.
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