New Delhi, Oct 11 (PTI) Prime Minister Narendra Modi said on Wednesday that the government's decision to establish 'Mera Yuva Bharat' (MY Bharat) platform will go a long way in furthering the youth-led development and giving wings to the aspirations of India's talented youth.

The Union Cabinet has approved the establishment of an autonomous body -- MY Bharat -- to serve as an overarching enabling mechanism to ensure the youth-led development, Union minister Anurag Thakur said.

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The body will be dedicated to the nation on the birth anniversary of Vallabhbhai Patel on October 31. It will provide equitable access to the youth to actualise their aspirations and build a developed India by utilising their energy, he said.

In a post on X, the prime minister said, "The Cabinet decision on establishing Mera Yuva Bharat (MY Bharat) will go a long way in furthering youth-led development and giving wings to the aspirations of our talented Yuva Shakti."

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In another decision, the government approved royalty rates of three per cent each for lithium and niobium and one per cent for Rare Earth Elements (REEs).

Modi said on X, "Today's Cabinet decision is great news for the sector and will also boost economic activities."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)