Cabinet OKs Rs,7,280cr Rare Earth Scheme to Boost Magnet Output

The Union Cabinet Wednesday approved a ₹7,280 crore rare earth permanent magnet scheme, two railway multi-tracking projects, and expansion of the Pune metro.Announcing the decisions, railways, information technology, and information broadcasting minister Ashwini Vaishnaw said upstream industries in defence, electronics, and electric vehicle manufacturing will be the key beneficiaries of the permanent magnet incentives.
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