New Delhi. Prime Minister Narendra Modi on Thursday described the Union Cabinet’s approval of a venture capital fund dedicated to the space sector as a great news and said that it will provide opportunities to many innovative youth and give impetus to the country’s space programme.
The Union Cabinet has approved a venture capital fund of Rs 1,000 crore dedicated to the space sector. The proposed venture capital fund is planned to extend the period of operation of the fund to five years. The fund has been strategically designed to advance India’s space sector, promote innovation and economic growth in line with national priorities.
Modi said in a post on ‘X’, “Great news for the space sector! The Cabinet’s decision to set up a venture capital fund dedicated to the space sector will have an unprecedented impact on the youth. “This will provide opportunities to many innovative youth and give impetus to our space programme.” In another post, the Prime Minister also expressed happiness over the approval of two railway projects with an estimated cost of Rs 6,798 crore. He said that these projects will boost connectivity and commerce in Andhra Pradesh, Bihar and Telangana.
The Cabinet Committee on Economic Affairs today approved two railway projects with an estimated cost of Rs 67098 crore.
Under the first project, two 256 km long railway lines of Narkatiaganj-Raxaul, Sitamarhi, Darbhanga and Sitamarhi-Muzaffarpur will be laid. Under the second project, Erupalem-Amaravati-Namburu railway line will pass through NTR Vijayawada and Guntur of Andhra Pradesh and Khammam district of Telangana.