PM Modi Inaugurates Major Railway and Highway Projects in Odisha Worth US$ 453.6 Million

Team Finance Saathi

    18/Sep/2024

What's covered under the Article:

PM Modi inaugurated railway projects worth US$ 334.2 million and national highway projects valued at US$ 119.4 million in Odisha.

He launched the Subhadra scheme to provide US$ 5.97 billion financial aid to women aged 21-60 years over 5 years.

Over US$ 149.2 million was transferred to 25 lakh women beneficiaries during the event under the Subhadra scheme.

In a significant boost to Odisha’s infrastructure development, Prime Minister Narendra Modi recently inaugurated a series of railway and national highway projects worth US$ 453.6 million (Rs. 3,800 crore). The event, held in Bhubaneswar, marks a pivotal moment in the state's push toward enhanced connectivity and economic growth. During his visit, PM Modi laid the foundation stone for railway projects valued at over US$ 334.2 million (Rs. 2,800 crore) aimed at improving railway infrastructure across the state. These projects are expected to boost regional connectivity and modernize the railway network, enhancing both passenger and freight services.

Additionally, national highway projects worth US$ 119.4 million (Rs. 1,000 crore) were also launched, contributing to better road connectivity in Odisha. These highway projects are crucial for streamlining transport in the state, improving accessibility, and facilitating faster movement of goods and people.

Railway Infrastructure Boost

The railway projects inaugurated by PM Modi are seen as a major step toward enhancing transportation networks in eastern India. With Odisha serving as a critical hub for both passenger and freight traffic, the improvements to the railway infrastructure will not only reduce travel time but also increase capacity, allowing more trains to operate efficiently. The projects include new lines, track doubling, and electrification, which will help meet the growing demand for railway services in the region.

The investment of US$ 334.2 million (Rs. 2,800 crore) will be allocated towards various segments of Odisha's railway network, ensuring that the state's transport infrastructure is equipped to handle future growth. Enhanced railway connectivity is expected to drive economic development, particularly in industries like mining, agriculture, and manufacturing, which rely heavily on efficient transport networks.

National Highway Projects

The national highway projects worth US$ 119.4 million (Rs. 1,000 crore) are equally important in the effort to enhance road connectivity in the region. These projects focus on expanding and upgrading critical highway routes, which will play a significant role in improving inter-state and intra-state connectivity. With better roads, Odisha aims to boost trade, tourism, and industrial growth, making travel smoother and more efficient for both residents and visitors.

These national highway upgrades are part of a broader effort by the Indian government to improve the country’s transportation infrastructure, ensuring that remote and rural areas are better connected to major economic centers. As road networks expand, so will opportunities for business and employment, contributing to the overall socio-economic development of Odisha.

PM Awas Yojana-Urban Interaction

In addition to launching these critical infrastructure projects, PM Modi and Odisha Chief Minister Mr. Mohan Charan Majhi interacted with beneficiaries of the PM Awas Yojana-Urban, a flagship scheme aimed at providing affordable housing to millions of urban poor across India. During his visit to Bhubaneswar, the Prime Minister visited several homes constructed under the scheme, where beneficiaries welcomed him warmly, sharing sweets and their experiences with the initiative.

The PM Awas Yojana-Urban has been a game-changer for housing across India, and in Odisha, it continues to play a significant role in transforming the lives of many. The Prime Minister’s visit offered beneficiaries an opportunity to express their gratitude, while also raising their concerns and queries about the scheme's implementation.

Launch of Subhadra Scheme

One of the most impactful moments of the event was the launch of the Subhadra scheme, a groundbreaking initiative aimed at providing financial assistance to eligible women aged 21-60 years. Under the scheme, US$ 5.97 billion (Rs. 50,000) will be disbursed over a five-year period, from 2024-25 to 2028-29. This financial aid will be delivered in annual instalments of US$ 119.37 (Rs. 10,000), with the funds being directly credited to beneficiaries' bank accounts in two equal payments each year.

As of now, 76 lakh women have already registered for the scheme, and during the launch event, over US$ 149.2 million (Rs. 1,250 crore) was transferred to the bank accounts of more than 25 lakh women beneficiaries. The Subhadra scheme is poised to offer much-needed financial support to women in Odisha, empowering them to improve their quality of life, invest in education, healthcare, and small businesses.

Empowering Women in Odisha

The Subhadra scheme is not only about financial assistance but also about empowering women in Odisha. The funds provided through this initiative are intended to enhance the financial independence of women, particularly in rural and underserved communities. With the financial backing provided by the scheme, women will have the resources to invest in themselves and their families, contributing to the overall development of the state.

Moreover, the direct transfer of funds to beneficiaries' bank accounts ensures transparency and efficiency, reducing the risk of leakages in the system. The scheme is expected to drive social and economic transformation in Odisha, providing a stable foundation for women's financial security.

Conclusion

The inauguration of railway and national highway projects, along with the launch of the Subhadra scheme, marks a significant step toward the development of Odisha. Prime Minister Modi’s visit underscored the government's commitment to infrastructure development and social welfare, both of which are critical to ensuring long-term growth in the region.

Odisha, with its strategic location and economic potential, stands to benefit immensely from these initiatives. The improvements in railway and highway connectivity will facilitate trade, tourism, and industry, while the Subhadra scheme will uplift the state's women by providing them with direct financial support. This combination of infrastructure development and social welfare is expected to have a lasting impact on the state, driving economic growth and empowering communities.

For further updates on similar issues and investment opportunities, explore the Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and stay informed with the Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News- Finance Saathi.

Join our Trading with CA Abhay Telegram Channel for stock market trading insights and the Finance Saathi Telegram Channel for regular updates on share markets and IPOs.

Start your stock market journey by opening a free demat account with Choice Broking FinX.

Related News
onlyfans leakedonlyfan leaksonlyfans leaked videos