In his Independence Day speech, PM Modi announced the government’s plan to launch a 100 lakh crore initiative to boost infrastructure and manufacturing.
On India’s 75th Independence Day, Prime Minister Narendra Modi, in his speech from the ramparts of the red fort, broadcasted that the government will be launching the ‘PM Gati Shakti Master Plan’.
It is a 100 lakh crore initiative to boost the manufacturing sector with aims to be a global competition and holistic infrastructure, which will generate great massive employment opportunities for the youth.
What is the Gati Shakti
“This plan,” he said on Sunday, “will be a national infrastructure master plan that will pave the way to lay the foundation of holistic infrastructure.
It is a 100 lakh crore master plan that aims to improve India’s infrastructure and generate more jobs.
This plan will break the silos and increase coordination between our means of transport.” “The next ten years, the power of speed will form the basis of India’s transformation,” said PM Modi.
This project aims to break the barriers between roads, railways, air and waterways to reduce the working class’ travel time. This will improve industrial production and make global production more competitive.
It not only facilitates future economic zones but also creates jobs. India has been working to restructure its logistics sector, including railways, highways, central waterways and airports, to establish a functional transport grid.
Asset management accounts for about 13% of the cost of Indian companies, making export exports less competitive than going to China.
Government views infrastructure development as the engine of economic growth. In December 2019, Finance Minister Nirmala Sitharaman had announced ₹ 111 lakh crore National Pension Pipeline (NIP) for 6,835 projects.
That has now grown to 7,400 projects where 217 cost ₹ 1.10 lakh crore have already complete. The government is also establishing the Development Finance Institution (DFI) to fund infrastructure projects.
What else did PM Modi announce in his speech
While addressing the NDA’s main focus, Prime Minister Narendra Modi has also announced the National Hydrogen Mission and plans to build commerce platforms for women’s self-help groups.
He also demanded that Amrit Kaal (the period of plurality) – 25 years until India celebrates 100 years of independence – meet all growing needs.
The government is trying to revive the economy that was devastated by the epidemic. The economy has since recovered rapidly, with India exporting a record price of $ 35.4 billion in July.
Amrit Kaal’s goal is to create an India where resources do not divide village by city. Amrit Kaal’s goal is to build India where the government does not unnecessarily interfere with the lives of its citizens.
Amrit Kaal’s goal is to make India where there is modern international infrastructure, “Modi said.