Prime Minister Narendra Modi has said that the prioritisation of 100 critical infrastructure gap projects identified through Gati Shakti Master Plan and allocation of ₹75,000 crore in this year’s Union Budget for them will give a further boost to logistics efficiency and reduce costs. This will positively impact the competence of products manufactured in India.
Infra development
The industry and other stakeholders should find ways to develop a mechanism for an advanced forecast of the needs of their sectors as various materials are needed for infrastructure development, Modi said addressing a post Budget webinar on ‘Infrastructure and Investment: Improving logistic efficiency with PM Gatishakti National Master Plan’ on Saturday.
“We need an integrated approach so that the roadmap for the future remains clear. PM Gati-Shakti National Master Plan has a big role in this”, Modi said stressing on the need to integrate the concept of circular economy with the sector.
Gati Shakti Master Plan
The results of the Gati Shakti Master Plan are becoming visible and it would soon change the face of India’s infrastructure and its multimodal logistics, the PM said. “We have identified the gaps that were impacting the logistics efficiency. That is why, in this year’s Budget, 100, critical projects have been prioritised and ₹75,000 crore have been allocated,” he said.
“Logistics cost will go down further in the days to come owing to quality and multimodal infrastructure and this will have a positive impact on the goods made in India, and on the competence of our products. Along with the logistics sector, there will be a lot of improvement in ease of living and ease of doing business”, he added, inviting the participation of the private sector.
Noting that capex had increased five times compared to 2013-14 and the government was moving with a target of investing ₹110 lakh crore under the National Infrastructure Pipeline, the Prime Minister expressed hopes that this year’s Budget would give new energy to infrastructure. “This is a time of new responsibilities, new possibilities and bold decisions for every stakeholder,” he said.