Information and Broadcasting Minister Ashwini Vaishnaw on Wednesday announced that the Cabinet has approved four major projects worth Rs 19,000 crore.
He said that the cabinet has approved scheme to promote the manufacturing of rare earth magnets and has allocated Rs 7,280 crore for the same.
“Cabinet approves Rs 7,280 crore scheme to promote manufacturing of sintered Rare Earth Permanent Magnets (REPM)," Vaishnaw said during a briefing.
This first-of-its-kind initiative aims to establish 6,000 Metric Tons per Annum (MTPA) of integrated Rare Earth Permanent Magnet (REPM) manufacturing in India, thereby enhancing self-reliance and positioning India as a key player in the global REPM market, Press Trust of India reported.
What are the key features?
The government has rolled out a first-of-its-kind initiative to promote the domestic manufacturing of sintered Rare Earth Permanent Magnets (REPMs), with a strong emphasis on building an end-to-end value chain.
The scheme covers the complete process, from converting rare earth oxides into metals, transforming these metals into alloys, and finally producing finished REPMs.
Backed by a total investment outlay of Rs 7,280 crore, the programme aims to create a manufacturing capacity of 6,000 metric tons per annum (MTPA), with five units of 1,200 MTPA each planned. The scheme will run for seven years, including the first two years dedicated to setting up the manufacturing units.
Pune Metro Rail Project
The Cabinet has also approved Pune Metro Rail Project Phase-2: Kharadi–Khadakwasla (Line 4) and Nal Stop–Warje–Manik Baug (Line 4A). The project will be completed within five years at an estimated cost of Rs 9,857.85 crore.
The Union Cabinet has approved the expansion of the Pune Metro Rail network with the addition of Line 4 and Line 4A under Phase 2 of the project, marking a major boost to the city’s public transport infrastructure.
The new corridors, Kharadi to Khadakwasla (Line 4) and Nal Stop to Warje–Manik Baug (Line 4A), will be developed at an estimated cost of ₹9,857.85 crore and are expected to be completed within five years.
Together, they will add a 31.6 km elevated network featuring 28 stations that will connect Pune’s IT hubs, commercial centres, educational institutions, and key residential pockets.
The lines will also integrate seamlessly with existing and sanctioned metro corridors at Kharadi Bypass and Nal Stop on Line 2, and Swargate on Line 1, enhancing last-mile connectivity and easing traffic congestion across the city.
What are the other projects?
The Cabinet cleared ₹1,457 crore for the doubling of the Devbhumi Dwarka (Okha)–Kanalus railway line and ₹1,324 crore for the construction of the 3rd and 4th railway lines between Badlapur and Karjat.
These projects have been allocated a total estimated cost of ₹2,781 crore. Together, these projects will expand the railway network by about 224 km and significantly improve connectivity for nearly 585 villages.
Beyond boosting regional development, the initiatives are expected to deliver major environmental and economic benefits by reducing oil imports by 3 crore litres and cutting CO2 emissions by 16 crore kg, an impact equivalent to planting 64 lakh trees, thereby supporting India’s climate goals and lowering logistics costs.
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