Latest news with #CabinetCommitteeonEconomicAffairs
Hans India
2 days ago
- Business
- Hans India
CM Naidu Thanks PM Modi, Nitin Gadkari for Approving Badvel–Nellore Highway Project
The Union Cabinet has approved building a four-lane highway between Badvel and Nellore in Andhra Pradesh. After this news, Chief Minister N Chandrababu Naidu thanked Prime Minister Narendra Modi and Union Minister Nitin Gadkari. The Cabinet Committee on Economic Affairs (CCEA), led by PM Modi, approved the project. The highway will be 109 kilometers long and will cost about ₹3,653 crore. The highway will be built using the Design-Build-Finance-Operate-Transfer (DBFOT) model, said the government's press office. On Wednesday, Naidu said the new road will: Improve travel and connectivity in the region Make the infrastructure stronger Help the economy grow Provide more job opportunities to young people, especially in rural areas PM Modi also praised the project in a post on X (Twitter). He said it will help Andhra Pradesh develop faster. One big benefit of the highway is that it will shorten the distance to Krishnapatnam Port in Nellore district. Right now, the trip is 142 kilometers. After the highway is built, it will be only 108 kilometers. This means the journey will be 34 kilometers shorter and faster than the current busy road. This project is an important step to improve roads, travel, and the economy in Andhra Pradesh.
India Today
2 days ago
- Business
- India Today
Highway linking central, eastern Andhra approved, Chandrababu Naidu thanks PM
Following the Union Cabinet's approval of the Badvel-Nellore Corridor project, Andhra Pradesh Chief Minister N Chandrababu Naidu extended his heartfelt gratitude to Prime Minister Narendra Modi and Union Road Transport Minister Nitin Cabinet Committee on Economic Affairs, chaired by PM Modi, sanctioned the construction of the four-lane highway connecting Badvel in central Andhra Pradesh and Nellore, in the eastern part of the over 109 km, the project has an estimated cost of Rs 3,653 crore and will be executed on the Design-Build-Finance-Operate-Transfer model, as per a release from the Press Information Bureau. 'The approval of the 4-lane Badvel-Nellore Corridor by the Union Cabinet is a major step forward in our state's growth,' said Naidu in a post on social media platform X, expressing gratitude for the Centre's support in fast-tracking the project. On Wednesday, Naidu remarked that the four-lane corridor would enhance regional connectivity and play a crucial role in advancing the state's economy, strengthening its infrastructure, and empowering the youth across various districts and rural Modi, too, acknowledged the project's significance in a post on X. 'The 4-Lane Badvel-Nellore Corridor, whose construction has been approved by the Cabinet will benefit the development journey of Andhra Pradesh and generate several opportunities for the youth of the state,' he wrote in the post.A major highlight of the proposed corridor lies in its strategic logistical value. As per official data, the new alignment is expected to shorten the travel distance to Krishnapatnam Port located in the city of Thamminapatnam, Nellore district, Andhra Pradesh by 34 km, bringing it down from 142 km to 108 km, offering a faster alternative to the existing Badvel-Nellore route, which often suffers from heavy traffic by Rahen Philip IN THIS STORY#Andhra Pradesh
Fibre2Fashion
2 days ago
- Business
- Fibre2Fashion
Indian govt raises cotton MSP up to 11.84% for 2025-26 season
The Indian government has increased the Minimum Support Price (MSP) of cotton by up to 11.84 per cent for the upcoming 2025–26 season (October–September). MSP is the price at which the government purchases cotton from farmers through its nodal agency, the Cotton Corporation of India (CCI). The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the increase in MSP for 14 Kharif crops, including cotton, for the next marketing season 2025–26. India has raised the Minimum Support Price (MSP) for cotton by up to 11.84 per cent for the 2025–26 season, with medium staple at ₹7,710 and long staple at ₹8,110 per quintal. While aimed at supporting farmers, traders argue the hike makes Indian cotton less competitive globally, with domestic prices now higher than Brazilian cotton on a CIF basis. According to a government press release issued on Wednesday, the MSP for medium staple seed cotton has been raised by 8.27 per cent to ₹7,710 ($90.18) per quintal. The purchase price for long staple fibre has been increased by 11.84 per cent to ₹8,110 ($94.86) per quintal. Over the past 12 years, the government has increased MSP by up to 108 per cent, with medium staple cotton rising 108 per cent and long staple cotton 103 per cent during this period. However, the increase in cotton MSP has not been well received by the trading community. Traders believe that excessive MSP hikes make Indian cotton uncompetitive in the global market and place the Indian textile industry in a difficult position. Jagdish Soni, a trader from Ahmedabad, compared pricing dynamics, noting that Indian cotton would cost around ₹63,000 per candy of 356 kg or 94 cents per pound, while Brazilian cotton (ICE cotton December 2025 contract) would be available at ₹60,600 per candy (90.45 cents per pound) on a CIF basis. Fibre2Fashion News Desk (KUL)
Hans India
2 days ago
- Business
- Hans India
India's food production surges to record high of 354 million tonnes in 2024-25
India's foodgrain production is estimated to have reached 354 million tonnes in 2024-25, which is 6.6 per cent higher than last year's (2023-24) production of 332 million tonnes, according to the third advance estimates. The estimates are based on all major crops, including wheat, rice, maize, soyabean, pulses and groundnuts. The data shows that rice production reached 1490.74 lakh metric tonnes (LMT), which is 112 LMT than the previous year. Wheat production estimation is 1175.07 LMT, higher by 42.15 LMT compared to the previous year. Coarse grains, which include jawar, bajra and ragi, recorded a 52.04 LMT increase in production at 621.40 LMT. The data further shows that total pulse production is estimated at 252.38 LMT, higher by 9.92 LMT than the previous year. Moong production reached 38.19 LMT against last year's 35.61 LMT. The estimated production of oilseeds may reach 426.09 LMT, which is 29.40 LMT higher than last year. Union Minister of Agriculture and Farmers Welfare Shivraj Singh Chouhan said that the overall production of foodgrains is showing an increasing trend, but the increase in pulses and oilseeds output needs to be accelerated further. Soybean and groundnut production is estimated at 151.80 LMT and 118.96 LMT, which is 21.18 LMT and 17.16 LMT higher than the previous year. The production of rapeseed and mustard reached 126.06 LMT. Data shows a record production of rice, wheat, maize, soybean, rapeseed, mustard, and sugarcane. 'The third estimated production of major crops such as paddy, wheat, soybean, groundnuts, oilseeds, and pulses is going to be a record,' Chouhan said. Chouhan attributed the record production to the farmer-friendly policies of the government, which include an increase in the minimum support price of crops and the timely provision of subsidised fertilisers. Meanwhile, the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday approved the increase in the Minimum Support Prices (MSP) for 14 kharif crops for the marketing season 2025-26 to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for nigerseed (Rs 820 per quintal), followed by Ragi (Rs 596 per quintal), Cotton (Rs 589 per quintal) and Sesamum (Rs 579 per quintal).
New Indian Express
2 days ago
- Business
- New Indian Express
Union Cabinet approves Badvel-Nellore Corridor in Andhra Pradesh
VIJAYAWADA: The meeting of Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the construction of a 4-lane Badvel-Nellore Corridor with a length of 108.134 km at a cost of Rs 3,653.10 crore on National Highway 67 under the Design-Build-Finance-Operate-Transfer (DBFOT) mode. The proposed Badvel-Nellore Corridor will provide connectivity to important nodes in the three Industrial Corridors of Andhra Pradesh, i.e., Kopparthy Node on the Visakhapatnam-Chennai Industrial Corridor (VCIC), Orvakal Node on Hyderabad-Bengaluru Industrial Corridor (HBIC), and Krishnapatnam Node on Chennai-Bengaluru Industrial Corridor (CBIC). This will have a positive impact on the Logistic Performance Index (LPI) of the country. Badvel-Nellore Corridor starts from Gopavaram village on the existing National Highway 67 in Kadapa district and terminates at the Krishnapatnam Port Junction on NH-16 (Chennai-Kolkata) in Nellore district, and will also provide strategic connectivity to Krishnapatnam Port, which has been identified as a priority node under Chennai-Bengaluru Industrial Corridor.
