Union Cabinet Approves Major Infrastructure and Manufacturing Push

The Union Cabinet, chaired by Prime Minister Narendra Modi, sanctioned seven major infrastructure and manufacturing projects on July 15, 2026, with a total budgetary outlay of ₹2,19,353 crore. A cornerstone of this initiative is the Mobile Phone Manufacturing Scheme (MPMS), also termed Semicon PLI 2.0, which has been allocated ₹62,500 crore. This five-year incentive program aims to increase domestic value addition in the mobile sector, foster Indian brands, and create roughly 60,000 direct jobs while targeting an aggregate mobile phone production of ₹39 lakh crore by 2031.

The government also approved the Semicon 2.0 Mission with an outlay of ₹1,27,500 crore to secure India's position in the global semiconductor ecosystem. For urban transformation in Varanasi, the Cabinet sanctioned two massive projects: a 46-km link corridor connecting the NH-19 with the Varanasi Ring Road and a 43-km 'Varuna Expressway' project. These infrastructure projects, costing over ₹25,000 crore combined, are intended to ease urban congestion and enhance connectivity along the Ganga and Varuna rivers, with the latter expected to conclude in four years.

The Cabinet approved two critical rail projects, including the doubling of the Paradeep-Haridaspur line and a new railway line in the Dangoaposi-Rajkharsawan stretch, to optimize freight movement and network capacity. In corporate developments, Brigade Enterprises Limited announced board approval to raise ₹1,500 crore via private placement of non-convertible debentures. The company also disclosed plans to issue convertible warrants to its promoter group, pending shareholder approval, as it seeks to scale its real estate expansion across southern India through the fiscal year.