Cabinet clears Rs 10,000 crore SME fund, new transport authority
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved a Rs 10,000 crore commitment for an SME Growth Fund to provide growth-stage equity capital to small and medium enterprises, to be set up as an Alternative Investment Fund. It also cleared the Integrated Transport & Logistics Authority, an SPV that will prepare a National Transport Master Plan with a 10-year or longer horizon and technically appraise central projects of Rs 500 crore or more. A resolution congratulated Modi on 25 years as head of government.