On India’s 75th Independence Day, Prime Minister announced that the Centre will launch PM Gati Shakti Master Plan, a Rs. 100 lakh-crore project for developing ‘holistic infrastructure’.
What is PM Gati Shakti Master Plan?
- In his speech, PM Modi pegged the project as a source of employment opportunities for the youth in future.
- In the coming days, PM Gati Shakti Plan, a 100 lakh crore national infrastructure master plan which will make a foundation for holistic infrastructure and give an integrated pathway to our economy.
- India has been working for a reset of its logistics sector involving railways, highways, inland waterways and airports to put in place an effective transportation grid.
- The logistics make up about 13% of costs for Indian companies, making exports uncompetitive vis-a-vis China.
- India needs to increase both manufacturing and exports because every product that is sold globally from India is attached to India.
- It is a national infrastructure master plan which will make a foundation for holistic infrastructure.
- It will help raise the global profile of local manufacturers and help them compete with their counterparts worldwide.
- It raises possibilities of new future economic zones.
Significance of PM Gati Shakti Master Plan
- It is aimed at easier interconnectivity between road, rail, air and waterways to reduce travel time and improve industrial productivity.
- It is aimed at breaking silos within the transport network to reduce travel time and improve industrial productivity.
It aims at improving industrial productivity, making manufacturing globally competitive, facilitating future economic zones and creating employment.
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