New Delhi, Feb. 24 -- The government on Tuesday approved rail, airport, and metro projects worth about Rs.12,236 crore, along with reforms in the power sector, and an increase in the support price for raw jute.

The cabinet and its committee on economic affairs (CCEA), in the first meeting at Seva Teerth, the new Prime Minister's Office (PMO), increased the minimum support price (MSP) of raw jute to Rs.5,925 per quintal, an increase of Rs.275 per unit, Union minister of information and broadcasting Ashwini Vaishnaw said. This change is estimated to cost the public exchequer Rs.430 crore, he said.

India is the world's largest producer of jute, accounting for over 50-70% of global production. and with cultivation largely concentrated in We...