Finance Minister chairs 1st meeting of Apex Monitoring Authority of National Industrial Corridor Development Programme

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Source: The post is based on the articleFinance Minister chairs 1st meeting of Apex Monitoring Authority of National Industrial Corridor Development Programmepublished in PIB on 7th July 2022.

What is the News?

The Finance Minister chaired the 1st meeting of the Apex Monitoring Authority constituted to review the activities of the National Industrial Corridor Development programme.

What is the National Industrial Corridor Development Programme(NICDP)?

National Industrial Corridor Development Programme is India’s most ambitious infrastructure programme aiming to develop new industrial cities as “Smart Cities” and converge next-generation technologies across infrastructure sectors.

Objective: To expand the industrial output, increase employment opportunities, and provide better living and social facilities for the new and growing workforce by way of providing plug n play infrastructure at the plot level for industries.

NICDC is developing Eleven(11) Industrial corridors comprising 32 projects in four Phases.

Funding: The Asian Development Bank (ADB) and the Government of India have signed a $250 million loan to support the NICDP.

Implementing Agency: National Industrial Corridor Development & Implementation Trust (NICDIT). 

– NICDC Limited is a Special Purpose Vehicle (SPV) under the Administrative Control of DPIIT, Ministry of Commerce & Industry.

Apex Monitoring Authority: An Apex Monitoring Authority under the chairmanship of the Finance Minister has been set up to periodically review the activities of the programme.

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