Gatishakti, a transformative process for economic growth: Sitharaman

02 Feb 2022 CW Team

On Tuesday, Minister or Finance Nirmala Sitharaman said that PM GatiShakti is a transformational strategy for economic development and sustainable growth.

PM GatiShakti is a transformative method for economic development and sustainable growth. The approach is steered by seven engines, namely, Railways, Roads, Airports, Mass Transport, Ports, Waterways, and Logistics Infrastructure. All seven engines will pull forward the economy in unison, Sitharaman said while introducing the Union Budget 2022-23 in Parliament today.

These engines are backed by the complementary roles of IT Communication, Energy Transmission, Bulk Water and Sewerage, and Social Infrastructure. She said ultimately, the process is powered by Clean Energy and Sabka Prayas - the efforts of the Central Government, the state governments, and the private sector together - resulting in massive job and entrepreneurial opportunities for all, especially the youth. The Finance Minister said that the scope of PM GatiShakti National Master Plan would contain the seven engines for economic shift, seamless multimodal connectivity and logistics efficiency. It will additionally comprise the infrastructure formed by the state governments as per the GatiShakti Master Plan.

The emphasis will be on planning, financing including via innovative methods, use of technology, and faster execution. Sitharaman said that the projects concerning these seven engines in the National Infrastructure Pipeline will be aligned with the PM GatiShakti framework. The touchstone of the Master Plan will be world-class modern infrastructure and logistics synergy among various modes of movement - both of people and goods - and the location of projects. She said this will assist raise productivity and boost economic growth and advancement. Sitharaman said that the Union Budget 2022-23 aims to lay the foundation and give a blueprint of the economy in the coming 25 years.

It continues to develop on the vision drawn in the Budget of 2021-22. Its essential tenets, which contained transparency of financial statement and fiscal position reflect the government's intent, strengths and challenges, the Union minister while introducing her fourth Budget said. She further said that the initiatives of the previous year's Union Budget have witnessed considerable progress and have been rendered with adequate allocations in this Budget. Sitharaman began her presentation of Budget 2022 by expressing empathy with those who were impacted by the adverse health and economic consequences of the Covid-19 pandemic. The Finance Minister said that India's economic development in the current year is estimated to be 9.2%, the highest among all large economies.

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On Tuesday, Minister or Finance Nirmala Sitharaman said that PM GatiShakti is a transformational strategy for economic development and sustainable growth. PM GatiShakti is a transformative method for economic development and sustainable growth. The approach is steered by seven engines, namely, Railways, Roads, Airports, Mass Transport, Ports, Waterways, and Logistics Infrastructure. All seven engines will pull forward the economy in unison, Sitharaman said while introducing the Union Budget 2022-23 in Parliament today. These engines are backed by the complementary roles of IT Communication, Energy Transmission, Bulk Water and Sewerage, and Social Infrastructure. She said ultimately, the process is powered by Clean Energy and Sabka Prayas - the efforts of the Central Government, the state governments, and the private sector together - resulting in massive job and entrepreneurial opportunities for all, especially the youth. The Finance Minister said that the scope of PM GatiShakti National Master Plan would contain the seven engines for economic shift, seamless multimodal connectivity and logistics efficiency. It will additionally comprise the infrastructure formed by the state governments as per the GatiShakti Master Plan. The emphasis will be on planning, financing including via innovative methods, use of technology, and faster execution. Sitharaman said that the projects concerning these seven engines in the National Infrastructure Pipeline will be aligned with the PM GatiShakti framework. The touchstone of the Master Plan will be world-class modern infrastructure and logistics synergy among various modes of movement - both of people and goods - and the location of projects. She said this will assist raise productivity and boost economic growth and advancement. Sitharaman said that the Union Budget 2022-23 aims to lay the foundation and give a blueprint of the economy in the coming 25 years. It continues to develop on the vision drawn in the Budget of 2021-22. Its essential tenets, which contained transparency of financial statement and fiscal position reflect the government's intent, strengths and challenges, the Union minister while introducing her fourth Budget said. She further said that the initiatives of the previous year's Union Budget have witnessed considerable progress and have been rendered with adequate allocations in this Budget. Sitharaman began her presentation of Budget 2022 by expressing empathy with those who were impacted by the adverse health and economic consequences of the Covid-19 pandemic. The Finance Minister said that India's economic development in the current year is estimated to be 9.2%, the highest among all large economies. Image Source