Like UP, 12 new industrial cities will be built in different states, manufacturing and employment will get a boost

Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said on Friday, that two such industrial cities are being developed in Andhra Pradesh and one in Bihar. At the same time, eight industrial cities are already in various stages of implementation, while 12 new industrial cities have been announced in the budget. This will increase the number of these cities in the country to 20.

The secretary said, that out of the eight industrial cities, infrastructure has been developed for their settlement in Dholera in Gujarat, Auric in Maharashtra, Vikram Udyogpuri in Madhya Pradesh, and Krishnapatnam in Andhra Pradesh. The work of land allotment is going on. The process of building infrastructure like road connectivity, water, and electricity supply is also underway in four other cities.

Singh said, plans for these cities are ready and the land is with the state governments. We just have to give equity approval to the special purpose vehicles (SPVs) formed for this. DPIIT will approach the cabinet for new cities.

Fitch Ratings said on Friday, that India's post-election budget confirms that the government is committed to reducing the fiscal deficit. Despite the demand of the parties in the coalition, the new government is sticking to the path of fiscal consolidation. Fitch said, we believe that this target can be achieved, as the government estimates GDP growth at market prices to be 10.5 percent in 2024-25, which is slightly lower than our current forecast.