New Delhi, Oct 27 (IANS) The cabinet Friday decided to set up a National Bamboo Mission at a cost of Rs.5.6 billion, it was announced here.
'The decision will mainly benefit the northeastern states where bamboo grows in abundance,' Information and Broadcasting Minister Priya Ranjan Dasmunsi said after a meeting of the cabinet committee on economic affairs (CCEA) chaired by Prime Minister Manmohan Singh.
'The objective of the mission is to promote the growth of the bamboo sector through area-based regionally differentiated strategies,' he added.
The CCEA also approved the acquisition by the Shipping Corporation of India (SCI) of two cellular container vessels of 4,300 Twenty Equivalent Units (TEU) capacity at a cost of $131.90 million each.
'Seventy percent of the cost will be met through external financing and SCI will provide the balance,' the minister stated.
The CCEA also approved the four-laning of a 35-km stretch of National Highway-1 between Amritsar and the Wagah border at a cost of Rs.2 billion.
'This is in keeping with a commitment made by the prime minister during his recent visit to Punjab,' Dasmunsi said.