Latest news with #UnionCabinetCommitteeonEconomicAffairs
Time of India
30-04-2025
- Business
- Time of India
NE gets its first high speed, access-controlled highway
Guwahati: The Union Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved the development of a four-lane greenfield highspeed corridor connecting Mawlyngkhung (near Shillong) in Meghalaya to Panchgram (near Silchar) in Assam aimed at improving connectivity and enhance logistic efficiency, spur economic development and cater to tourists. This 166.80-km-long NH-6 will be northeast's first access-controlled highway, like the Agra-Lucknow expressway and the Delhi-Mumbai expressway. The project is estimated to cost Rs 22,864 crore and the development, maintenance and management will be on a hybrid annuity mode, which is variant of public-private partnership mode. Access controlled highways have limited and designated entry and exit points and is designed for high-speed traffic. This greenfield high-speed corridor will improve the service level for the traffic moving from Guwahati to Silchar and will improve the connectivity to Tripura, Mizoram, Manipur and the Barak Valley region of Assam from mainland and Guwahati with substantially reduced travel distance and travel time. This will, in turn, contribute to the enhancement of logistics efficiency of the nation. The corridor will improve connectivity between Assam and Meghalaya and will spur economic development, including development of industries in Meghalaya, as it passes through cement and coal production areas of Meghalaya. According to the govt, this corridor will cater to national and international tourists coming from well-connected Guwahati Airport, Shillong Airport, Silchar Airport (via existing NH-06) connecting Guwahati to Silchar. This would connect scenic places of tourist attraction in the north-east and promote tourism. This critical infrastructure project will improve inter-city connectivity between Guwahati, Shillong and Silchar, traverses through Ri Bhoi, East Khasi Hills, West Jaintia hills, East Jaintia hills in Meghalaya and Cachar district in Assam, reduce congestion on existing NH-06 and enhance transport infrastructure development in line with the PM Gati Shakti National Master Plan. The project alignment integrates with major transport corridors, including NH-27, NH-106, NH-206 and NH-37, providing seamless connectivity to Guwahati, Shillong, Silchar, Diengpasoh, Ummulong, Phramer, Khlieriat, Ratachera, Umkiang, Kalain.. Upon completion, the Shillong-Silchar corridor will play a pivotal role in regional economic growth, improving connectivity between Guwahati, Shillong, Silchar, Imphal, Aizawl and Agartala. The project aligns with the government's vision of Atmanirbhar Bharat, enhancing infrastructure while generating employment and fostering socio-economic development in Meghalaya, Assam, Manipur, Mizoram and Tripura.
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Business Standard
30-04-2025
- Business
- Business Standard
Centre hikes sugarcane FRP by Rs 15 per quintal for 2025-26 season
The Union Cabinet Committee on Economic Affairs today hiked the Fair and Remunerative Price (FRP) of sugarcane for the 2025-26 season, which will start from October, by Rs 15 per quintal to Rs 355. This is 4.2 per cent more than the FRP for the 2024-25 sugar season, which will conclude in September. The FRP is linked to a basic recovery of 10.25 per cent. A premium of Rs 3.46 per quintal will be provided for every 0.1 percentage point increase in recovery over and above 10.25 per cent. A reduction in FRP by Rs 3.46 per quintal will be applicable for every 0.1 per cent decrease in recovery from the basic rate. But to protect the interest of those sugarcane farmers who are growing older varieties of cane, the government has also decided that there shall not be any deduction in the case of sugar mills where recovery is below 9.5 per cent. Such farmers will get an FRP of Rs 329.05 per quintal for sugarcane in the ensuing sugar season 2025-26. As per the Sugarcane (Control) Order of 1966, FRP is the minimum price that sugar mills have to pay to sugarcane farmers. Recovery rate is the amount of sugar that sugarcane fetches — the higher the quantum of sugar derived from sugarcane, the greater the price it fetches in the market. Big sugarcane-producing states such as Uttar Pradesh, Punjab, and Haryana fix their own sugarcane price, called 'state advisory prices' (SAPs), which is higher than the Centre's FRP. Meanwhile, welcoming the Centre's decision, the Indian Sugar and Bio-Energy Manufacturers Association (ISMA), in a statement issued today, said that the revised FRP is projected to enhance the earnings of approximately 5.5 crore sugarcane farmers by over Rs 20,000 crore, taking the total to around Rs 1.2 trillion in the upcoming sugar season. "This decision will not only support farmer livelihoods but also strengthen the overall agricultural economy, particularly in rural regions where sugarcane farming forms a major source of income," ISMA said. It also requested the Centre to align the Minimum Selling Price (MSP) of sugar and ethanol procurement prices with the revised FRP of sugarcane. Such alignment is essential to maintain financial sustainability across the value chain — from farmers to sugar mills, ISMA said. Sugar MSP has not been revised since 2019.
