Business Today: Cabinet Clears Mega Varanasi Infra Plan And Semiconductor Scheme As Auto Sales Surge
The Union Cabinet has approved an infrastructure plan for Varanasi worth 25,000 crore rupees, featuring two elevated corridors and an 89-kilometer road network designed to
The Union Cabinet has approved an infrastructure plan for Varanasi worth 25,000 crore rupees, featuring two elevated corridors and an 89-kilometer road network designed to reduce travel time to the Ganga corridor to 20 minutes. Alongside this, the cabinet cleared a 1.27 lakh crore rupee budget for the second edition of the semiconductor program and a 62,500 crore rupee layout for the mobile phone manufacturing scheme.
In the aviation sector, Akasa Air is expanding its capacity and plans to raise funds, contrasting with capacity cuts by other airlines. The automobile industry reported growth, with passenger vehicle sales rising by 24 percent and exports jumping by 34 percent in June. Meanwhile, the stock market remains steady, with the Sensex trading higher near the 77,200 mark and the Nifty holding above 24,000, driven by gains in public sector banks, cement, and chemical stocks despite pressure on the information technology sector.
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