New Delhi, Oct. 6 -- The Union cabinet on Tuesday approved key measures aimed at strengthening India's transport infrastructure, reducing logistics costs and providing patient risk capital to small and medium enterprises (SMEs) to help them scale faster and create jobs.

The cabinet approved the establishment of the Integrated Transport and Logistics Authority (ITLA) as a special purpose vehicle (SPV) to foster greater coordination for transport planning, project appraisal, data analysis and monitoring.

Separately, the government approved a Rs.10,000-crore commitment to the SME Growth Fund (SGF), aimed at addressing the shortage long-term equity capital available to growth-stage SMEs. The development assumes significance as micro, small,...