New Delhi, December 13
Union Minister for Communications, Jyotiraditya Scindia highlighted that the introduction of the Gati Shakti scheme has revolutionized infrastructure development in the country, brought about paradigm shifts in governance and age-old frameworks across the spectrum.
By adopting a whole-of-government unified approach, projects that previously took 8-10 years for implementation are now being completed much faster.
He said "Earlier, it used to take 8-10 years for the implementation of a single project. Today, under the leadership of the Prime Minister, the country has been empowered with momentum through the Gati Shakti Portal, which is based on a whole-of-government unified approach. The nation is progressing rapidly."
Gati Shakti lends more power and speed to projects under the USD 1.5-trillion National Infrastructure Pipeline by sharing resources and developing synergies towards building a more harmonized infrastructure.
It will ensure last-mile connectivity to economic zones in a definite timeframe. The aim is to ultimately improve India's productive capacity and global competitiveness with regard to manufacturing in India.
The minister was speaking at a press conference on GOI's infrastructure push in Delhi on Friday. He also shared India's extraordinary achievements in infrastructure development, emphasizing its pivotal role as an economic multiplier.
He stated that infrastructure investments not only drive economic growth but also create opportunities for employment and development. Over the past year, India has allocated a record Rs 11.5 lakh crore towards capital expenditure, marking a significant leap in the nation's growth strategy.
He said "Infrastructure is one of the greatest economic multiplier, If we talk about quantum, an allocation of Rs 11 lakh crore in the budget for capital infrastructure is perhaps unprecedented in any country. Even if you combine the GDP of 10-12 countries, they may not reach the capacity of Rs 11.5 lakh crore. And India alone has allocated this amount for capital expenditure in a single year. Moreover, it has been increased every year by 10-15 per cent growth."
Explaining the financial impact, the minister noted that every rupee invested in infrastructure has a GDP multiplier effect of 2.5 to 3.5 times. This means that Rs 1 invested in infrastructure generates Rs 2.5 to Rs 3.5 in economic output.
He also mentioned that infrastructure investments currently account for 5.3 per cent of India's GDP and are projected to reach 6.5 per cent by 2039.
The minister also highlighted the country's commitment to enhancing infrastructure has grown consistently, with a 10-15 per cent annual increase in capital expenditure allocation. In specific sectors, the transformation is even more striking. The road sector, which had a budget of Rs 31,130 crore in 2013-14, now commands Rs 70,000 crore.
Similarly, in the aviation sector, the number of airports has more than doubled, from 74 in 2014 to around 147 today. Achievements that took 65 years to accomplish have been surpassed in just a decade the minister noted.
He said "In the aviation sector, where there were 74 airports earlier, the number has now risen to approximately 147 airports--more than double. What was achieved in 65 years has been surpassed by Prime Minister Modi in just 10 years".
The railway sector has also seen remarkable growth. In 2013-14, only 4 kilometers of railway tracks were laid per day. Today, this figure has risen to approximately 15 kilometers per day, showcasing the rapid pace of development.
These advancements as per the minister highlight India's commitment to building a modern and robust infrastructure framework, fueling its journey towards becoming a global economic powerhouse.