Infrastructure development driving the economy, Modi tells 700+CEOs-MDs
This is a time of new responsibilities, new possibilities and bold decisions for every stakeholder, Prime Minister Narendra Modi has told more than 700 CEOs and MDs at a webinar on budget on 4 Mar 2023.
The Government is moving with a target of investing Rs.110 lakh crore under the National Infrastructure Pipeline, he said at the Post Budget Webinar on ‘Infrastructure and Investment: Improving logistic efficiency with PM Gatishakti National Master Plan’.
“Infrastructure has a significant role to play in the sustainable development of any country along with development while keeping the needs of the future in mind,” the Prime Minister has stressed.
“Infrastructure development is the driving force of the country’s economy”, Modi remarked, pointing out that India will achieve the target of becoming a developed nation by 2047 by following this very path.
“Now we have to improve our speed and move in top gear,” he added.
Noting that PM Gati Shakti Master Plan is a critical tool that integrates economic and infrastructural planning with development, Modi said, “Gati Shakti National Master Plan is going to change the face of India’s infrastructure and its multimodal logistics.”
He noted that the results of the PM Gati Shakti Master Plan are becoming visible.
“We have identified the gaps that were impacting the logistics efficiency. That is why, in this year’s Budget, 100 critical projects have been prioritized with allocation of Rs.75,000 crore.”
He also invited private investments in the sector.
Elaborating on the role of the states, the Prime Minister informed about the one-year extension of interest-free loans for up to 50 years loans and Budgetary expenditure which has been increased to the tune of 30%.
Modi asked the participants to find ways to develop a mechanism for an advanced forecast of the needs of their sectors as various materials are needed for infrastructure development.
“We need an integrated approach so that the roadmap for the future remains clear. PM Gati-Shakti National Master Plan has a big role in this,” he said, emphasizing the need to integrate the concept of circular economy with the sector.
The Prime Minister emphasized that the robustness of India’s physical infrastructure is equally important for strengthening the social infrastructure.
He underlined that a strong social infrastructure will lead to more talented and skilled youth who will come forward to serve the nation.
Noting the significance of the suggestions of every stakeholder at the webinar, the Prime Minister elaborated that they are not just contributing to the development of the nation but also providing momentum to the growth engine of India.
He highlighted that infrastructural development is not limited to rail, road, ports and airports anymore, but as part of this year’s Budget, huge projects have been taken up for storing the produce of the farmers in villages.
He also gave examples of wellness centers being developed in the cities and villages, new railway stations and pucca houses being delivered to every family.
Modi expressed confidence that the views, suggestions and experiences of all stakeholders will help in the fast and effective implementation of this year’s Budget. fiinews.com
