Context
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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.
Credit: GoodReturns - 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.
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It aims at improving industrial productivity, making manufacturing globally competitive, facilitating future economic zones and creating employment.
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