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The Union Budget 2022-23 has given a big push to infrastructure development in the country, identifying the PM Gati Shakti National Master Plan as a key driver to push growth.
Presenting budget proposals for FY23, finance minister Nirmala Sitharaman on Tuesday said as part of plan to augment infrastructure, a record 25,000 km of National Highways will be built next fiscal. A National Master Plan on Expressways will be formulated in 2022-23, to facilitate faster movement of people and goods.
“PM Gati Shakti will encompass the seven engines for multi-modal connectivity for the states with speedier implementation of development projects through technology to facilitate faster movement of people and goods through ₹20,000 crore financed by the government to speed up this project," Sitharaman said.
The PM Gati Shakti is driven by seven engines -- roads, railways, airports, ports, mass transport, waterways and logistics infra. All the seven engines will pull forward the economy in unison, supported by energy transmission, IT communication, bulk water and sewerage and social infra, she said.
In the Railways sector, 400 semi-high speed EMU trains or Vande Bharat Express will be rolled out over the next few years. Also, 100 new cargo terminals will be set up. Around 60 km of ropeway projects will be taken up to facilitate movement under the Parvat Mala project.
The government aims to develop multi-modal connectivity network in the country and help India reduce its logistics cost from a high of 14% of GDP to less than 8%.
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