PTI reported that government on Tuesday decided to take a slew of steps, including enhancing steel production capacity to 300 million tonnes and raising textile exports by 30% this year, aimed at boosting manufacturing and exports amid sharp fall in the rupee.

A high level meeting chaired by Prime Minister Manmohan Singh also decided to give a push towards creating domestic manufacturing capabilities in advanced materials, alloys and composites.

Sources said that at the meeting of High Level Committee on Manufacturing, a go ahead was given to building of civilian passenger aircraft, a dream project that has been on the drawing board for years, and a pilot project for electric vehicles in Delhi.

The meeting decided that steps would be taken to build 300 million tonnes of steel capacity through Special Purpose Vehicles of Central Public Sector Enterprises with states.

This will be a significant jump in the targeted capacity building as steel production this year is expected to be 120 million tonnes. The capacity was 89 million tonnes in 2011-12.

The meeting also decided that quick decisions would be taken on raising textile exports by 30% this year. In the last fiscal, textiles exports were about USD 34 billion.

These decisions are crucial as these come against the backdrop of the government's keenness to boost manufacturing and exports amid falling value of rupee. The rupee yesterday hit the all-time low when it crossed 61 to the dollar.

The Prime Minister's focus was on the Strategic Industry Initiative covering areas of advanced materials like building of civilian aircraft and electric transport.