The Union Cabinet on Wednesday approved expanding the mandate of Delhi Mumbai Industrial Corridor Project Implementation Trust Fund (DMIC-PITF Trust), while redesignating it as National Industrial Corridor Development & Implementation Trust (NICDIT).
NICDIT will be the apex body under the Department of Industrial Policy and Promotion for monitoring and implementing all Central efforts for development of industrial corridors.
“There is an existing approval for expenditure of Rs. 18,500 crore, of which the unspent balance will be used by NICDIT. Another Rs. 1,584 crore has been given for four additional corridors and NICDIT’s administrative expenses up to March 2022,” an official release said.