The MoU has been signed under the Bharatmala Pariyojana across the country to centralize freight consolidation and reduce logistics costs from 14% to less than 10% of GDP.
The Union Cabinet chaired by Prime Minister Narendra Modi approved an interest subvention of 1.5 percent per annum on short-term agriculture loans up to Rs 3 lakh to ensure "adequate credit flow in the agriculture sector".