The Union Cabinet on Tuesday has approved allocation of Rs 1,853 crore to make Paramakhudi-Ramanathanpuram National Highway a four laner, Union Minister Ashwini Vaishnaw said in a cabinet briefing.
The project will be developed on Hybrid Annuity Mode and will help decongest the existing corridor, improve safety, and cater to the mobility needs of rapidly growing towns such as Paramakudi, Sathirakudi, Achundanvayal and Ramanathapuram.
In addition, the project alignment will be in integration with five major national highways and three state highways offering better connectivity and logistic nodes across Tamil Nadu. It will enhance the connectivity between Madurai and Rameshwaram railway stations, the airport in Madurai with Pamban and Rameshwaram ports.
The project is expected to boost religious tourism to Rameshwaram and Dhanushkodi and open better transition in the trade route, helping in industrial development. The project will also generate approximately 8.4 lakh person-days of direct and 10.45 lakh person-days of indirect employment, and will open new avenues of growth, development and prosperity in surrounding regions.
The Union also approved the Research Development and Innovation Scheme, with an outlay of Rs 1 lakh crore, with the aim of bolstering India's research and innovation ecosystem.
The Union Cabinet has approved an employment linked incentive scheme, with a budget outlay of nearly Rs 1 lakh crore. The scheme aims to create over 3.5 crore new jobs over the next two years, with a strong emphasis on the manufacturing sector and first-time workers.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
