In her Budget speech, India’s finance minister Nirmala Sitharaman said the Budget seeks to lay the foundation to steer the economy over “Amrit Kaal” of the next 25 years from India at 75 to India at 100 while continuing to build on the vision of Budget.
In a sense, India’s finance minister was pointing towards the long-term effect of the Budget as a vision statement.
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“The approach is powered by clean energy and Sabka Prayas(everyone’s effort together leading to huge job and entrepreneurial opportunities for all, especially the youth,” India’s finance minister said while highlighting the plan.
It involved seven engines – roads, railways, airports, mass transport, ports, waterways and logistics infrastructure which will be supported by energy transmission, IT, water, sewerage and social infrastructure.
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The plan is based on “seamless multimodal connectivity and logistics efficiency”. It will also include infrastructure developed by state governments, according to the “Gati Shakti National Master Plan”.
According to the plan, the key focus would be planning, financing and finding innovative ways through technology and fast implementation.
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PM Gati Shakti framework is the key focus area, according to the finance minister’s Budget statement. The PM Gati Shakti programme seeks to formulate a master plan for expressways for the faster movement of people and goods.
It involves a Unified Logistics Interface Platform (ULIP) designed for application programming interface (API). It will cut time and eliminate tedious documentation, Sitharaman said.
“This will provide real-time information to all stakeholders and improve international competitiveness. Open-source mobility stack for organising seamless travel of passengers will also be facilitated,” the finance minister informed.
(With inputs from Agencies)
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