New Delhi, April 4: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved four projects to expand the track network of Indian Railways with an investment of Rs 18,658 crore, according to an official statement issued on Friday.

The four projects covering 15 districts in three states – Maharashtra, Odisha, and Chhattisgarh – will increase the existing network of Indian Railways by about 1,247 km.

These projects include Sambalpur-Jarapda 3rd and 4th Lines, Jharsuguda-Sason 3rd and 4th Lines, Kharsia-Naya Raipur-Parmalkasa 5th and 6th Lines, and Gondia-Balharshah doubling

The enhanced line capacity will improve mobility, providing enhanced efficiency and service reliability for Indian Railways. These multi-tracking proposals will ease operations and reduce congestion, providing the much-needed infrastructural development on the busiest sections across Indian Railways. The projects are in line with PM Modi’s vision of a New India, which will make people of the region “Aatmanirbhar” with comprehensive development in the area, which will enhance their employment/ opportunities, the official statement said.

The projects are part of the PM-Gati Shakti National Master Plan for multi-modal connectivity which entail integrated planning and will provide seamless connectivity for movement of people, goods and services.

With these projects, 19 new stations will be constructed, enhancing connectivity to two Aspirational Districts (Gadchiroli and Rajnandgaon). The multi-tracking project will enhance connectivity to around 3,350 villages and about 47.25 lakh population.

Kharsia-Naya Raipur-Parmalkasa lines will provide direct connectivity to new areas such as Baloda Bazar, and this will create possibilities for the setting up of new industrial units, including cement plants, in the region.

These lines are essential routes for the transportation of commodities such as agricultural products, fertiliser, coal, iron ore, steel, cement, and limestone. The capacity augmentation works will result in additional freight traffic of magnitude 88.77 MTPA (Million Tonnes Per Annum), the statement said.

With rhe Railways being an environment friendly and energy efficient mode of transportation, the new projects will help both in achieving climate goals and minimising logistics costs of the country. The projects are expected to reduce oil import by 95 crore litres and lower CO2 emissions by 477 crore kg, which is equivalent to planting 19 crore trees, the statement added.

New Delhi, April 4: Maulana Shahabuddin Razvi, the National President of All India Muslim Jamaat, expressed his support for the Waqf (Amendment) Bill, stating that it would significantly benefit Muslims and ensure the betterment of their socio-economic conditions.

He praised the passage of the bill in both the Lok Sabha and Rajya Sabha and thanked the Modi government.

Maulana Shahabuddin, giving his first reaction to passage of bill, said, “The Waqf Amendment Bill does not harm common Muslims, it will benefit them. The only ones who stand to lose are the Waqf land mafias who have illegally occupied valuable land. Common Muslims will not be affected by this.”

He further stated that the bill is aimed at protecting the interests of the poor and vulnerable sections of the Muslim community.

The Maulana explained that the revenue generated from Waqf land would be used to improve the socio-economic status of impoverished Muslims, particularly those unable to afford quality education for their children.

“The income from Waqf land will be used for the benefit of poor Muslims, helping children from low-income families get a better education, and assisting orphans and widows in their development,” he said.

Maulana Shahabuddin assured that the funds would be used according to the intention of the Waqf and aimed at opening schools, colleges, madrasas, and orphanages to uplift the educational and social standing of underprivileged Muslims.

Addressing concerns about the impact on religious sites, Maulana Shahabuddin stated, “The Waqf Amendment Bill poses no threat to religious sites. Mosques, madrasas, Eidgahs, cemeteries, and shrines will remain unaffected. The government will not interfere with these religious institutions in any way.”

He further cautioned the Muslim community against falling prey to misleading political narratives, urging them not to be swayed by political figures seeking to exploit the situation for their own gain.

“Some politicians are misleading Muslims for their own interests. I appeal to the Muslim community to not fall for their provocations,” he added.

In the early hours of Friday, the Rajya Sabha approved the Waqf (Amendment) Bill, 2025, with a majority of 128 votes against 95, following a heated debate. The Bill had been passed in the Lok Sabha just a day earlier, after nearly 12 hours of intense discussions.

Drawing a parallel to the Citizenship Amendment Act (CAA) controversy, Maulana Shahabuddin recalled how political leaders misled the Muslim community, causing unwarranted fear that Muslims would lose their citizenship.

“When the CAA law was introduced, Muslims were misled into believing that their citizenship would be revoked. However, after its implementation, it became clear that no Muslim in India lost their citizenship, and instead, many were granted citizenship,” he stated.

Mumbai, April 4: Indian frontline indices opened in the red on Friday following global sell-off in the equity markets in reaction to the reciprocal tariffs announced by US President Donald Trump.

At 9:23 am, Sensex was down 544 points or 0.71 per cent at 75,750 and Nifty was down 194 points or 0.82 per cent at 23,059.

Midcap and smalcap stocks witnessed selling pressure in the early trading hour. Nifty midcap 100 index was down 669 points or 1.34 per cent at 51,464 and Nifty small 100 index was down 253 points or 1.56 per cent at 16,001.

On the sectoral front, auto, IT, PSU bank, pharma, FMCG, metal, realty and energy were major laggards. Only finance services was trading with gains.

In the Sensex pack, HDFC Bank, Bajaj Finance, Bharti Airtel and M&M were top gainers. Tata Motors, Tata Steel, L&T, IndusInd Bank, Maruti Suzuki, Reliance Industries, Sun Pharma, Infosys and Tech Mahindra were the top losers.

Following the announcement of Trump tariffs, global markets experienced jitters overnight, leading to a gap-down opening indicated by the Gift Nifty.

Selling was seen in most Asian markets. Tokyo, Bangkok and Seoul were in the red.

The US markets witnessed a massive sell-off on Thursday after reciprocal tariffs were announced. The Dow closed by nearly 4 per cent down and the technology index Nasdaq down by nearly 6 per cent.

On the institutional front, foreign institutional investors (FIIs) extended their selling streak for the fourth consecutive session on April 3, offloading equities worth Rs 2,806 crore. In contrast, domestic institutional investors (DIIs) remained net buyers for the fifth consecutive day, purchasing equities worth Rs 221.47 crore.

According to market observers, on the upside, immediate resistance is seen at 23,350, followed by 23,600 for Nifty.

“A breakout beyond these levels could trigger a continuation of the uptrend, targeting the 200 DSMA in the 24,000–24,100 range. While the index may remain range-bound in the near term, stock-specific trades are offering better opportunities, and traders should focus on individual names for potential gains,” said Sameet Chavan, Head Research, Technical and Derivative – Angel One.