Budget 2019: Via PMGSY, government has given massive push to all forms of physical connectivity, says FM Nirmala Sitharaman
Union Budget 2019 speech: During her speech in the Parliament today, FM Sitharaman said that the government has given a massive push to all forms of physical connectivity via PMGSY, Industrial corridors, Dedicated freight corridors, Bharatmala, Sagarmala, Jal Marg Vikas and UDAN schemes.
Union Budget 2019 speech: During her speech in the Parliament today, FM Sitharaman said that the government has given a massive push to all forms of physical connectivity via PMGSY, Industrial corridors, Dedicated freight corridors, Bharatmala, Sagarmala, Jal Marg Vikas and UDAN schemes. New Finance Minister is delivering her Budget in speech in the Parliament, tabling Modi government's achievements for the economy. Talking about the initiatives that have contributed to increasing the physical connectivity through airways, waterways, road or rail network, FM mentioned number of successful projects of the govt.
''Schemes such as BharatMala, Sagarmala and UDAN are bridging rural-urban divide and improving our transport infrastructure'', FM said in Parliament.
Here are the details of each physical connectivity initiative from Modi government:
1. PMGSY: The Pradhan Mantri Gram Sadak Yojana (PMGSY), was launched by the Govt. of India to provide connectivity to unconnected Habitations as part of a poverty reduction strategy.
2. Industrial corridors: An industrial corridor aims to create an area with a cluster of manufacturing or other industry and are created in areas that have infrastructure facilities like ports, highways and railroads etc.
3. Dedicated freight corridors: The govt. via this, plans to construct dedicated freight corridors across the country marks a strategic inflexion point in the history of Indian Railways that has essentially run mixed traffic across its network.
4. Bharatmala: Bharatmala Pariyojana aims to invest Rs 5.35 lakh crore (US$77 billion) for the development of new highways for around 83,677 km (51,994 mi).
5. Sagarmala: This initiative plans to enhance the performance of the country's logistics sector. The programme aims to use the potential of waterways and the coastline to minimize infrastructural investments required to meet these targets.
6. Jal Marg Vikas: The Project entails development of fairway with 3 meters depth between Varanasi and Haldia (Phase-I) covering a distance of 1380 km at an estimated cost of Rs. 5369 crore with target for completion in six years.
7. UDAN schemes: The scheme aims at making air travel affordable and widespread, to boost inclusive national economic development, job growth and air transport infrastructure development of all regions and states of India. Moto of the scheme is 'letting the common citizen of the country fly'.
There are tons of expectations from FM and the Modi 2.0 government this year. As far as the economic growth and development is concerned, FM also said that India is well within the capacity to reach $5 million trillion economy goal said Sitharaman.
She said, ''It is well within our capacity to reach $5 million trillion economy goal, Indian economy will become 3 trillion dollar economy this year itself''.
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