Cabinet clears Rs 10,000 crore SME fund, hails Modi’s 25 years

The Union Cabinet on Tuesday approved a Rs 10,000 crore SME Growth Fund and a new Integrated Transport and Logistics Authority, and passed a resolution congratulating Prime Minister Narendra Modi on 25 years of continuous leadership as head of government. The SME fund will give direct equity support to growth-oriented small and medium enterprises, with a focus on manufacturing and firms with the potential to become global champions. The Integrated Transport and Logistics Authority, a special purpose vehicle, will serve as the apex institution for transport planning, project appraisal, monitoring and data analytics, and will prepare a long-term national transport master plan across modes. Information and Broadcasting Minister Ashwini Vaishnaw announced the decisions after the meeting chaired by Modi. The resolution marking 25 years counts Modi's tenure as Gujarat Chief Minister and Prime Minister. It follows the June resolution applauding him as India's longest-serving elected Prime Minister, with 4,399 continuous days in office, surpassing Jawaharlal Nehru's record of 4,398 days.
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