Infrastructure sector is a key driver for the Indian economy. The sector is highly responsible for propelling India’s overall development and enjoys intense focus from Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country. Infrastructure sector includes power, bridges, dams, roads, and urban infrastructure development.
The government has given a massive push to the infrastructure sector by allocating Rs. 10 lakh crore (US$ 130.57 billion) for the infrastructure sector.
Department of IT and Telecom sector has been allocated Rs. 84,586 crore (US$ 11.05 billion).
Indian railways received Rs. 1,40,367.13 crore (US$ 18.34 billion), of which Rs. 1,37,100 crore (US$ 17.91 billion) is for capital expenditure.
Rs. 1,99,107.71 crore (US$ 26.02 billion) has been allocated towards road transport and highway.
In Budget 2022-23, the government announced the following interventions under Pradhan Mantri Gati Shakti National Plan:
In 2022-2023, a plan for expressways will be developed to help people and goods move more quickly.
The national highways will be expanded by 25,000 kilometres with a funding outlay of Rs. 20,000 crores (US$ 2.61 billion).
A new Unified Logistics Interface Platform will be introduced to ease data interchange between operators across various modes of transportation, with the goal of applying a just-in-time approach to logistics management and providing operators with real-time data. In the next three years, 100 PM Gati Shakti freight terminals for multimodal logistics facilities will be built.
For safety and capacity enhancement, a 2,000-kilometer railway network would be placed under Kavach. Over the following three years, 400 new Vande Bharat trains with improved energy efficiency and passenger comfort would be developed and produced.
For the construction of metro systems of suitable form and scale, Innovative funding solutions would be promoted. Metro systems and physical infrastructure should be standardised to meet Indian demands.
Parvatmala, a preferred environmentally friendly alternative to conventional road networks in mountainous locations – also known as the National Ropeways Development Programme – will be implemented through a public-private partnership (PPP).
The government announced Rs. 18,998 crore (US$ 2.61 billion) for metro projects.
Confederation of Indian Industry (CII), Indias Premier Industry Association is organising Excon 2023 which is scheduled to be held between 12th - 16th December 2023 at BIEC, Bengaluru, Karnataka, India.
Download the EXCON 2023 app today to learn more information about the event!