Modi’s staggering $1.35trln infrastructure plan is the real deal
Gati Shakti to provide the muscle behind an ambitious blueprint aimed at generating employment and boosting use of cleaner fuels to achieve stated climate goals.
Indian prime minister Narendra Modi gave the country’s 75th Independence Day celebration more meaning by announcing a staggering 100 trillion rupee ($1.35 trillion) national infrastructure plan to help generate jobs and expand the use of cleaner fuels to achieve the country's climate goals.
The infrastructure programme, called "Gati Shakti", will help boost productivity of industries and boost the economy, said Modi during his speech at the Independence Day celebrations in New Delhi.
"We will launch a masterplan for Gati Shakti, a big programme ... (it) will create job opportunities for hundreds of thousands.”
While specific details are yet to be made public the aim would be to provide local manufacturers with a platform to compete globally and create new avenues of future economic growth.
Freedom from needless compliances is important for Ease of Living and Ease of Doing Business. Our industry and trade are feeling these changes. Dozens of labour laws have been brought together in four codes. Our tax system has also been made easy and faceless. - Narendra Modi, Indian PM
Infrastructure lies at the core of India’s economic progress and will help the country achieve the prime minister vision of turning the country into a $5trln economy. It is also yet another piece of strategic thinking by the government to ensure that the nation can be pulled back to recovery mode following the destruction wrought by two successive waves of the Covid-19 pandemic which threatened to cripple the economy. Aligned to economic bounce back is the target that the government has set to ensure that India becomes energy independent by 2047. Sunday’s announcement of the ‘Gati Shakti’ scheme is aimed at giving a foundation for holistic infrastructure and an integrated pathway to the economy. A 'National Master Plan' of the scheme will be presented in near future. Read More at https://www.indiaglobalbusiness.com/industry/infrastructure/modis-staggering-135trln-infrastructure-plan-is-the-real-deal