INFRASTRUCTURE

PM Modi launches Rs 100 lakh crore Gati Shakti National Master Plan for infrastructure

Prime Minister Narendra Modi today launched PM Gati Shakti National Master Plan worth Rs 100 lakh crore, which aims at streamlining infrastructure development undertaken by several ministries and departments in the country and enhancing multi-modal connectivity.

The country has so far lacked comprehensive planning of infrastructure projects with each department and ministries working independently in silos, the prime minister said while launching the master plan from Pragati Maidan in New Delhi.

The aim is to bring down the logistics cost, which is currently around 13% of gross domestic product in the next four-five years,, to enhance the competitiveness of the country’s industries and economy, the prime minister said.

The master plan aims to incorporate infrastructure schemes such as Bharatmala, Sagarmala, regional air connectivity scheme, development of inland waterways, sea as well as land ports, and aim for holistic development..

The master plan will also cover economic zones such as textile, fishing, pharmaceutical clusters, defence corridors, electronic parks, industrial corridors, agricultural zones for improving connectivity and making Indian businesses more competitive.

The master plan aims to reduce the multiplicity of approval and regulatory clearances which are required for infrastructure development in the country and streamline the process.

Source
ET Energy World
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