Cabinet approves incentive scheme for promotion of low-value BHIM-UPI transactions

By  News On Air   Mar 19, 2025

The government today approved an incentive scheme for the promotion of low-value BHIM-UPI transactions. The scheme will be implemented at an estimated outlay of one thousand 500 crore rupees. Briefing media in New Delhi today on the decisions of the Union Cabinet, Information and Broadcasting Minister Ashwini Vaishnaw said, the scheme will enable small merchants to avail of UPI services at no additional cost. He said an incentive at the rate of 0.15 percent per transaction value will be provided for transactions up to two thousand rupees to small merchants.

Mr Vaishnaw said the government has decided to set up a new Brownfield Ammonia-Urea Complex Fertilizer Plant within the existing premises of Brahmaputra Valley Fertilizer Corporation Limited at Namrup in Assam. He said the project will increase the domestic Urea production capacity in the country and it will meet the growing demand for Urea fertilizers. Mr Vaishnaw said it will have an annual capacity of 12.7 Lakh Metric Tonnes of Urea production. He said the estimated total project cost is 10 thousand 601 Crore rupees with a debt-equity ratio of 70:30 through a Joint Venture.

The project will increase the domestic Urea production capacity in the country, especially in the North-Eastern region and meet the growing demand for Urea fertilizers in North East, Bihar, West Bengal, Eastern Uttar Pradesh and Jharkhand. The Minister informed that the Cabinet Committee on Economic Affairs has approved the construction of a six-lane access-controlled Greenfield Highway from JNPA Port to Chowk in Maharashtra. He said, the project will be developed on Build, Operate and Transfer (BOT) mode at a total capital cost of four thousand 500 crore rupees. This project is designed to improve the logistic efficiency of connecting JNPA port and Navi Mumbai International Airport.

Mr Vaishnaw said that the government approved the revised Rashtriya Gokul Mission to boost growth in the livestock sector. The implementation of the revised Rashtriya Gokul Mission as a Central Sector component of the Development Programmes scheme is being done with an additional outlay of one thousand crore rupees which is the total outlay of 3400 crore rupees during the 15th Finance Commission cycle from 2021-22 to 2025-26. He said the scheme is set to significantly boost milk production and productivity, thereby increasing farmers’ incomes.

The Cabinet also approved the Revised National Program for Dairy Development. Mr Vaishnaw said this initiative focuses on modernizing and expanding dairy infrastructure, ensuring the sector’s sustained growth and productivity. The revised National Program for Dairy Development, a Central Sector Scheme, has been enhanced with an additional one thousand crore rupees bringing the total budget to 2790 crore rupees for the period of the 15th Finance Commission cycle 2021-22 to 2025-26.