Infrastructure push to turn India into developed nation by 2047
By Catrin Jones14 March 2023
Prime Minister of India Narendra Modi has said that driving infrastructure development forward is the country’s way to achieve its target of becoming a developed nation by 2047.
The PM Gati Shakti Master Plan is said to be key to pushing the country’s economy. The Prime Minister spoke in a post-Budget webinar this month, saying, “We have identified the gaps that were impacting the logistics efficiency. That is why, in this year’s Budget, 100 critical projects have been prioritised and Rs 75,000 crore has been allocated.”
Modi added, “With quality and multimodal infrastructure, our logistic cost is going to reduce further in the days to come. This will have a positive impact on the goods made in India, on the competence of our products.”
According to the Times of India, Modle said that this year’s Budget is set to provide new energy to infrastructure with India’s capital expenditure having been increased five times since 2013-2014.
The construction of national highways has almost doubled compared to 2014 whilst 4000km of railway track is now being electrified against only 600km previously.