Prime Minister Narendra Modi urged the private sector to invest in the country’s infrastructure, outlining on Monday how the Gati-Shakti project will ease compliance burdens and reduce project overruns and overruns.

In a post-budget webinar on Gati Shakti’s vision, the prime minister urged the private sector to plan using data on existing and planned infrastructure as well as forests and industrial areas in the national master plan.

“More than 400 layers of data are now available in the PM Gati-Shakti National Master Plan…not only existing and planned infrastructure, but also information on forested areas and available industrial areas…the private sector should use more They, it’s more of its planning,” he said. The Prime Minister added that all key information on the National Master Plan is now available on one platform. “In this way, project direction and different types of approvals can be obtained from the DPR (detailed project report). The stage itself. This will also help reduce your compliance burden,” he said.

PM Gati Shakti will ensure a true public-private partnership in infrastructure creation from infrastructure planning to development and utilization stages, PM added.

The Prime Minister also urged the state governments to develop the PM Gati-Shakti National Master Plan as the basis for their projects and economic zones. Highlighting the lack of coordination among stakeholders in the traditional way of project implementation, Modi said that Prime Minister Ghati Shakti will also lead to the best use of the country’s resources as everyone will be able to formulate their the plan of. He added that “infrastructure-based development” will lead to a significant increase in the strength of India’s economy and the creation of many new jobs.

The government has committed £7.5 trillion in the 2022-23 budget, up from £5.54 trillion last year. “Infrastructure planning, implementation and monitoring have gained a new direction from Prime Minister Ghati-Shakti. This will also reduce the time and cost of project overruns,” he added. Of the capital allocation of 7.5 trillion rupees, 1 trillion rupees will be allocated to states for infrastructure project development. “The state government can use this funding for intermodal infrastructure and other productive assets,” he said.

Modi noted that logistics costs in India are estimated at 13-14% of India’s GDP, higher than other major countries. He added that the Unified Logistics Interface Platform (ULIP) envisaged in this budget will reduce logistics costs. “ULIP integrates 24 digital systems from 6 ministries. This will create a national single-window logistics portal that will help reduce logistics costs,” he added.

Complete News Source : MINT