17 May 2018: UPSC Exam PIB Summary & Analysis

Freight Village

  • The Cabinet Committee on Economic Affairs has given its approval to the Development of Freight Village, an Integrated Multi Modal Logistics Hub (IMLH) at Nangal Chaudhary, Haryana.
  • The project has enormous economic value in terms of direct and indirect benefits and multiplier effects on the economy.
  • The economic benefits of the project will include creation of employment, reduction in fuel costs, boosts to exports, reduction in vehicle (trucks) operating cost, reduction in accident related costs, increase in collection of taxes by the State Government, reduction in pollution, etc.
  • The proposed development of a Freight Village as Multi Modal Logistics Hub is estimated to generate over four thousand direct and six thousand indirect employment. 
  • The construction of trunk infrastructure will be undertaken in two phases. Phase I will be implemented by financial year 2020-21.
  • For implementation of proposed Freight Village, an SPV has been incorporated as a 50:50 Joint Venture of Government of India through NICDIT and Government of Haryana through HSIDC under the name “DMIC Haryana Multi Modal Logistic Hub Project Limited”.

Background:

  • Government of India (Gol) is developing the Delhi Mumbai Industrial Corridor, as a global manufacturing and investment destination around 1,504 km long Western Dedicated Freight Corridor (DFC) as the backbone.
  • Investment Regions and Industrial Areas have been identified for development in this corridor, across six States namely Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh.
  • Haryana is a major industrial and trading hub in North India. Potentially high rate of industrial development has to be supported through additional infrastructure to handle the transport of raw material and manufactured goods.
  • Haryana is expected to witness container traffic of about 10 Million Twenty Foot Equivalent Unit (TEUs) by 2025. Hence, development of a Freight Village is important.

Cabinet approves Corpus for Micro Irrigation Fund with NABARD

  • The Cabinet Committee on Economic Affairs has approved an initial Corpus of Rs.5,000 crore for setting up of a dedicated “Micro Irrigation Fund” (MIF) with NABARD under Pradhan MantriKrishiSinchayeeYojana (PMKSY). 

Benefits:

  • The dedicated Micro Irrigation Fund would supplement the efforts of Per Drop More Crop Component (PDMC) of Pradhan MantriKrishiSinchayeeYojana in an effective and timely manner.
  • With the additional investment for micro-irrigation accessing MIF, innovative composite/ commodity/ community/ cluster based micro-irrigation projects/ proposals may bring about 10 lakh ha.
  • The Fund will facilitate States to mobilise resources for their initiatives, including additional (top up subsidy) in implementation of PMKSY-PDMC to achieve the annual target of about 2 Million ha/year during the remaining period of 14thFinance Commission under Per Drop More Crop Component of PMKSY as recommended by the Group of Secretaries.

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