Indian Railways, Udan to Bharatmala Pariyojana! India Inc requires Rs 100 lakh crore infrastructure push, say experts
Towards $5 trillion economy: The Modi 2.0 Government intends to invest more than Rs 100 lakh crore in the infrastructure sector over the next 5 years.
With a vision to make India a $5 trillion economy, the Modi government in New Delhi presented its maiden budget focusing on investing massively on building infrastructure to support India’s long-term growth. The government intends to invest more than Rs 100 lakh crore in the infrastructure sector in the next 5 years. This will contribute to the nation’s economic growth and bring positive sentiment to the construction and the real estate industry. Though India is far ahead of many emerging economies, the government is leaving no stone unturned to boost the economy via investments mainly in infrastructure, which will have a multiplier benefit and also create jobs at various levels, bringing about improved productivity. The Rs 100 lakh crore investments in infrastructure over the next five years is reflective of the importance placed on the GDP, nation-building, employment along with a special emphasis on building last-mile connectivity by the government.
Speaking on the requirement of infrastructure sector that needs special focus of the Narendra Modi Government Dr. Niranjan Hiranandani, Senior Vice President at Assocham said, "The increased focus by the government on the development of railways, roads, aviation, ports, smart cities, power and intra-city connecting networks like metro rail, Udan will give a thrust to the infrastructure fabric of the country. These are important measures which will boost the recovery and further expansion of real estate in the country." Dr. Hiranandani said that the government plans to mobilize Rs 50 lakh crore investments in the Railway Infrastructure Development by 2030. Budget allocation for the railways sector has been increased from Rs 53,060 crore to Rs 65,837 crore in line with announced investment in the railways sector. Railways being one the largest employer in India, this expansion drive will create massive employment opportunities for the youth of the country.
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Batting for giving major thrust on the Indian railway infra Rakesh Yadav, CMD, Antriksh India Group said that Indian Railways infrastructure expansion will enable India Inc to improve its last-mile connectivity and develop better mobility infrastructure for passengers and goods. He said that such steps would lead to growth and expansion of business across the country.
Commenting upon the importance of Udan scheme for industrial clusters and development of new industrial clusters Rajiv Chawla, Chairman, IamSMEofIndia said, "UDAN scheme is one of the most ambitious infrastructure schemes of the Modi 2.0 Government. Under this scheme, more than 100 airports are operating in India. But, in budget 2019, Finance Minister Nirmala Sitharaman announced that the government will prepare a blueprint for the regional airports to connect various towns and cities across India to improve connectivity — a development that would enable the small cluster to blossom at rapid pace giving birth to new clusters in and around its reach." Chawla said that under roads, the government plans to launch Phase 2 of Bharatmala Pariyojana for providing seamless connectivity to the interior and backward areas and borders of the country. Pradhan Mantri Gram Sadak Yojana Phase 3 envisages upgrading 1.25 lakh kms of road length at an estimated cost of Rs 80,250 crore.
The Sagarmala Scheme will look into the development of ports and related infrastructure to reduce logistics cost for exports and domestic trade with minimal infrastructure investment, which will increase the efficiency of the supply chain sector. The project will drastically reduce the logistics cost in India and our industries more competitive.