The government today approved an action plan for 12 ‘champion’ services sectors, including IT, tourism and hospitality, for realising their potential through establishment of a Rs 5,000 crore dedicated fund.The fund, once set up, will support initiatives for sectoral action plans of the ‘champion sectors’.The decision to clear the proposal of the Department of Commerce was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi here.”The Cabinet has also directed the ministries/ Departments concerned with these sectors to utilise the available draft sectoral plans to finalise and implement the action plans for the identified Champion Services Sectors,” an official statement said.Moreover, the respective line Ministries/Departments shall finalise the Action Plans and the implementation time-lines along with a monitoring mechanism to monitor implementation under the overall guidance of the Committee of Secretaries (CoS) under Cabinet Secretary.The 12 sectors include Information Technology & Information Technology enabled Services (IT & ITeS), Tourism and Hospitality Services, Medical Value Travel, Transport and Logistics Services, Accounting and Finance Services, Audio Visual Services, Legal Services, Communication Services, Construction and Related Engineering Services, Environmental Services, Financial Services and Education Services.