New Delhi, Feb 14 || The Union Cabinet has approved projects worth Rs 1,60,504 crore at its final meeting in the South Block before passing a resolution to shift its functioning to the Seva Teerth complex, Union Railways and Electronics and IT Minister, Ashwini Vaishnaw, said on Saturday.
Prime Minister Narendra Modi on Friday unveiled the new complex named ‘Seva Teerth’, which houses the Prime Minister’s Office (PMO), National Security Council Secretariat (NSCS) and the Cabinet Secretariat.
At its final session in South Block, the Cabinet cleared major decisions spanning railways, national highways, metro expansion, urban reforms and startup funding.
Marking a paradigm shift in the urban development approach, the government approved the launch of the Urban Challenge Fund (UCF) with central assistance of Rs 1 lakh crore. The central assistance will cover 25 per cent of the project cost, subject to raising minimum 50 per cent of the project cost from market.
The Cabinet approved three multi-tracking projects, covering 12 districts across Delhi, Haryana, Maharashtra and Karnataka, with a total cost of Rs 18,509 crore. This will increase the existing network of Indian Railways by about 389 kms.