From SME fund to hailing PM’s 25 years as govt head: Cabinet decisions & resolutions

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved a series of measures spanning support for small and medium enterprises, integrated transport planning and logistics, and a resolution marking PM Modi’s completion of 25 years of continuous public service.The Cabinet approved a Rs 10,000 crore commitment towards setting up the SME Growth Fund, which will provide direct equity support to growth-oriented small and medium enterprises, with a focus on manufacturing and businesses with potential to emerge as global champions. The government said the fund will address a gap in long-term growth capital for SMEs seeking to expand, adopt technology and enter international markets.The Cabinet also approved the establishment of the Integrated Transport & Logistics Authority (ITLA), an SPV that will serve as an apex institution for integrated transport and logistics planning, project appraisal, monitoring and data analytics.