Cabinet approves Semicon 2.0, mobile manufacturing, urea plants, and highway projects
The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, has approved several major projects. These include ₹1.27 lakh crore for India Semiconductor Mission 2.0, aiming to attract ₹4 lakh crore in investments and achieve ₹2 lakh crore in production. A ₹62,500 crore outlay was approved for the Mobile Phone Manufacturing Scheme (MPMS) to boost local production and Indian brands. Additionally, nine new gas-based urea plants with a capacity of 10 million tonnes were sanctioned under the New National Investment Policy for Urea (NIPU-2026) to achieve self-reliance. Two highway projects worth ₹25,400 crore were also cleared for Varanasi to ease congestion.
Key Points
- The CCEA approved India Semiconductor Mission 2.0 with a significant outlay to boost domestic chip manufacturing.
- The Mobile Phone Manufacturing Scheme (MPMS) received approval to scale up local production and promote Indian brands.
- Nine new gas-based urea plants were sanctioned under NIPU-2026 to achieve self-reliance in fertilizer production.
- Two major highway projects in Varanasi were cleared to ease congestion and improve connectivity.
- The semiconductor mission aims to attract ₹4 lakh crore in investments and achieve ₹2 lakh crore in production.
Exam Facts
- The Cabinet Committee on Economic Affairs (CCEA) is chaired by PM Narendra Modi.
- India Semiconductor Mission 2.0 has an outlay of ₹1.27 lakh crore.
- The Mobile Phone Manufacturing Scheme (MPMS) has an outlay of ₹62,500 crore.
- The New National Investment Policy for Urea (NIPU-2026) aims for 9 new gas-based plants with 10 million tonnes capacity.
- Two highway projects in Varanasi are worth ₹25,400 crore, including NH-31 and NH-19 corridors.
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