The government has approved a venture capital fund of Rs 1,000 crore for startups in the space sector

The government is going to create a venture capital fund of Rs 1,000 crore to promote startups in the space sector. This fund will be spent over the next five years. Prime Minister Narendra Modi chaired a cabinet meeting on Thursday, where this decision was taken. During the meeting, the Economic Affairs Committee (CCEA) also approved two rail projects worth Rs 6,798 crore. These projects will increase the railway network by about 313 km. Andhra Pradesh, Telangana, and Bihar will benefit from these projects. Additionally, a new railway line will be laid from Ayodhya to Sitamarhi in Bihar.

Union Minister Ashwini Vaishnav said after the meeting that the venture capital fund will be spent in the following manner: Rs 150 crore in 2025-26, Rs 250 crore each in 2026-27, 2027-28, and Rs 100 crore in 2029-30. This will likely help around 40 startups. Vaishnav also said that the doubling of the railway line from Narakatiaj-Raxaul-Sitamarhi-Darbhanga and Sitamarhi-Muzaffarpur will be done, which will increase connectivity in Bihar and improve the transportation of goods trains and passenger trains.

Also, a new railway line of 57 km will be laid from Amaravati to Errupalem and Namburu, which will pass through Andhra Pradesh’s NTR Vijayawada and Guntur districts, as well as Telangana’s Khammam district. This will increase connectivity in Bihar and improve the transportation of goods trains and passenger trains.

The government has also decided to run 7,000 special trains during the Diwali and Chhath festivals. This will provide relief to about two lakh passengers daily. Northern Railway had earlier announced the operation of 3,050 special trains. Most of these trains will run in Uttar Pradesh, Bihar, Jharkhand, and northeastern states.

Another railway project has been approved, which includes the construction of a 3.2 km long railway bridge over the Krishna River. This will connect Amaravati to Hyderabad, Chennai, Kolkata, and Nagpur. Andhra Pradesh Chief Minister N Chandrababu Naidu has thanked the Prime Minister and Railway Minister for approving the new railway line.