GATI SHAKTI MASTER PLAN @75TH INDEPENDENCE DAY
WHY IN THE NEWS?
Prime Narendra Modi announced that the Center will launch “PM Gati Shakti Master Plan” on the occasion of the 75th Independence Day from the ramparts of the Red Fort.
The government has announced to invest Rs 100 lakh crore to boost the economy of the country.
In the words of PM Modi – “In the coming days, we will launch the PM Gati Shakti Plan — a 100 lakh-crore national infrastructure master project that will make a foundation for holistic infrastructure and give an integrated pathway to our economy. To further increase our developmental progress, we have to focus on our manufacturing and export.”
WHAT IS GATI SHAKTI MASTER PLAN?
A master plan of Rs 100 lakh crore to develop a holistic infrastructure, what does holistic mean? Holistic is a belief that parts of something are closely interrelated. So, we can understand here, PM Modi is trying to address the development of interrelated infrastructure.
For example, if we have good transportation facilities, we can move products easily between the two places.
Thus, here the government is aiming at easier interconnectivity between road, air, rail, waterways, as they will reduce the travel time, ultimately save oil, and thus improve industrial productivity.
So, ultimately they are going to increase capital expenditure in infrastructure building to promote economic growth.
BENEFITS OF THIS PROJECT
- This project will be a source of employment opportunities for the youth in India, where there is a large working-age population.
- Infrastructure development is the basic need for any economy.
- It can help in the creation of special economic zones(SEZ). SEZs are the initiatives of the government where they develop the industries in the projected area and convert it into an industrial hub.
- Help in maintaining the balance of trade by making more exports.