A pilot project will also be implemented for electric vehicles in Delhi involving three wheelers, taxis and buses.
Steps will be taken to build 300 million tonnes of steel capacity through special purpose vehicles of Central Public Sector Enterprises with states. This will represent a sharp jump over the current production capacity of 120 million tonnes.
A time-bound action plan would be prepared towards creating domestic manufacturing capabilities in advanced materials, alloys an composites.
Prime Minister Manmohan Singh will meet business leaders on July 29 to discuss steps to revive the economy.