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Gati Shakti Infrastructure Plan

Posted on August 18, 2021 by admin1  621

In News 

  • Prime Minister of India announced the launch of ‘PM Gati Shakti Master Plan On India’s 75th Independence Day, 

Gati Shakti Plan

  • About:
    • It is a 100 lakh crore national infrastructure master plan for developing ‘holistic infrastructure and give an integrated pathway to the Indian economy
    • It will build upon the National Infrastructure Pipeline (NIP).
    • Multimodal connectivity of various economic hubs with roads, ports and airports will be part of the Gati Shakti masterplan, which will provide manufacturers faster access to domestic and international markets.
    • It will ensure that various economic hubs are able to better utilise the investments in the sector being done by the government and private players.
  • Objectives and Need: 
    • India has been working for a reset of its logistics sector involving railways, highways, inland waterways and airports to put in place an effective transportation grid. Logistics make up about 13% of costs for Indian companies, making exports uncompetitive vis-a-vis China. Therefore,  the government felt the need for creating a kind of a master plan for infra investments.
    • It is aimed at easier interconnectivity between road, rail, air and waterways to reduce travel time and improve industrial productivity.
  • Significance 
  • It will make manufacturing globally competitive 
  • It will result in new employment opportunities for lakhs of youth. 
  • It also raises possibilities of new future economic zones.

National Infrastructure Pipeline (NIP)

  • About:
    • NIP is a first-of-its-kind initiative to provide world-class infrastructure across the country and improve the quality of life for all citizens.
    • It will improve project preparation, attract investments (both domestic & foreign) into infrastructure, and will be crucial for attaining the target of becoming a $5 trillion economy by FY 2025.
    • It covers both economic and social infrastructure projects– based on the updated Harmonized Master List of Infrastructure.
    • The NIP project database would be made available on the India Investment Grid (IIG).
    • NIP started with 6,835 projects, which has now increased to 8,156. The projects involving $1.9 trillion are spread over 34 sub-sectors with 1,869 projects under development.
  • Significance:
    • It will provide a boost to the vision of an Atma Nirbhar Bharat and the availability of NIP projects on IIG will ensure easy accessibility to updated project information and attract investors for PPP projects. 
    •  It will give stimulus to infrastructure projects which will create jobs, improve ease of living.
    • It will provide equitable access to infrastructure for all, thereby making growth more inclusive. 

What is the India Investment Grid (IIG)?

  • It is an interactive and dynamic online platform that showcases updated and real-time investment opportunities in the country. 
  • It serves as the gateway to investments in India and is also widely used by Indian missions and embassies across the world.
  • It allows investors to search a pan-India database for investment opportunities across sectors and Track the progress of preferred projects and indicate interest and Directly communicate with project promoters.

Source: IE

 
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