Courtesy : businessinsider.in
India infrastructure master plan of india
Finance minister Nirmala Sitharaman on Tuesday announced the PM Gati Shakti
National Master Plan aimed at making logistics connectivity seamless across the length and breadth of the country.
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Sitharaman described the Gati Shakti
plan – a massive infrastructure development undertaking – to encompass the ‘engines’ of growth, namely roads, railways, mass transport, seamless multi-modal connectivity.
In deference to the request from many states, the outlay of the Scheme for Financial Assistance to states has been increased from ₹10,000 crore to ₹15,000 crore. The allocation for FY23 is ₹1 lakh crore to catalyse overall investments in the economy.
The 50-year interest free bonds are over and above the normal borrowings by the states. This will be used for Gati Shakti, rural road projects, town planning schemes etc.
The Gati Shakti project aims to create a synergy between infrastructure and logistics, both of people and goods, and location of projects.
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Here are the key takeaways of the announcements under the PM Gati Shakti National Master Plan:
- A scheme for expressways will be formulated in 2022-23 to facilitate faster movement of people and goods.
- The national highways network will be expanded by 25,000 kilometres in 2022-23, with an outlay of INR 20,000 crores via financing.
- A new Unified Logistics Interface Platform will be brought in to facilitate data exchange between operators across different modes of transport, aimed at implementing a just-in-time approach for logistics management and giving access to real-time information to operators.
- A new open-source mobility stack for organising seamless travel of passengers will be facilitated.
- Contracts for implementation of multi-modal logistics parks at four locations will be awarded on a public-private-partnership (PPP) mode in 2022-23.
- Railways will develop new products and logistics services for small farmers, and small and medium enterprises.
- Railways will integrate railways and postal networks for seamless movement of parcels.
- A 2,000-kilometre railway network will be brought under ‘Kavach’ for safety and capacity augmentation.
- 400 new-generation Vande Bharat trains with better energy efficiency and passenger riding experience will be developed and manufactured over the next three years.
- 100 PM Gati Shakti cargo terminals for multi-modal logistics facilities will be developed in the next three years.
- ‘Innovative’ financing options will be encouraged for building metro systems of appropriate type and scale.
- Facilitation of multi-model connectivity options between mass urban transport and railway stations.
- Standardisation of metro systems and civil structures based on Indian needs.
- Parvatmala, a preferred ecologically sustainable alternative to conventional road systems in hilly areas – also known as National Ropeways Development Programme, will be undertaken in PPP mode.
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A fund for agritech startup, inc
KRITTI BHALLA
FEB 1, 2022, 18:55 IST
Canva
- The government of India has decided to set up a dedicated fund for agritech startups.
- The finance minister also mentioned that the government intends to pay ₹2.7 lakh crore worth of MSP.
- Like other sectors, the finance ministry has also proposed to further incorporate drones into the agriculture sector.
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The government of India has decided to set up a dedicated fund for agritech startups, Finance Minister Nirmala Sitharaman said while announcing the union budget for the year 2022-23.
“A fund with blended capital, raised under the co-investment model, will be facilitated through NABARD. This is to finance startups for agriculture & rural enterprise, relevant for farm produce value chain. The activities for these startups will include, inter alia, support for FPOs, machinery for farmers on rental basis at farm level, and technology including IT-based support,” Sitharaman said.
The finance minister also mentioned that the government intends to pay ₹2.7 lakh crore worth of minimum support price (MSP) direct payments to wheat and paddy farmers.
Besides this, the government is also looking to deploy drones for agriculture monitoring, crop assessment, digitisation of land records and spraying of insect pesticides.
The share price of Zen Technologies — a publicly listed company that works on drone detection, classification and tracking — spiked after the Sitharaman made this announcement.
While the company doesn’t have agricultural operations, the spike of its shares was related to the wider scope of drones. “Startups will be promoted to facilitate Drone Shakti through varied applications and for a drone as a service,” Sitharaman added.
“The budget has covered multiple avenues for the drone industry to rise, the focus on promoting Agricultural Drones and the NABARD fund to support startups will result in ensuring that the Drone Industry reaches a new milestone. The development of 100 new cargo terminals in the next 3 years will also add to the growth of Drones enabled for cargo deliveries within the terminals and terminals to delivery locations,” Swapnik Jakkampuddi, cofounder of Skye Air Mobility, said.
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Allocation for India’s defence may see a nominal increase
The government is expected to announce ₹1.3 lakh crore for railways under the national infrastructure pipeline
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NEXT STBudget 2022: Watch out for the highlights from Finance Minister Nirmala Sitharaman’s s
BI INDIA BUREAU
FEB 1, 2022, 14:57 IST
Word cloud shows that digital, development and capital were the most terms in Finance Minister’s Union Budget speechBI India
- Nirmala Sitharaman is all set to make her fourth budget speech as India’s Finance Minister.
- Stock markets have regained a lot of the recently lost value in the hope that the Narendra Modi government will spend enough money to boost private consumption.
- This article will be updated with the most important parts of Sitharaman’s speech as soon as she starts speaking.
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Nirmala Sitharaman is all set to make her fourth budget speech as India’s Finance Minister. Stock markets have regained a lot of the recently lost value in the hope that the Narendra Modi government will spend enough money to boost private consumption. This may include income tax cuts as well, according to experts.
The first part of her speech focussed on the government’s upcoming programme titled ‘Gati Shakti’. This programme involves big public investment in building modern infrastructure including roads, highways, seamless multimodal transport, and improving logistics networks to name a few.
As part of this programme, the budget has allocated ₹20,000 crore to award 25,000 kilometres of highway projects in the financial year ending March 2023.
In deference to the request from many states, the outlay of the Scheme for Financial Assistance to states has been increased from ₹10,000 crore to ₹15,000 crore. The allocation for FY23 is ₹1 lakh crore to catalyse overall investments in the economy.
The 50-year interest free bonds are over and above the normal borrowings by the states. This will be used for Gati Shakti, rural road projects, town planning schemes etc.
Advertisement
The Finance Minister has announced a fund to support startups in agriculture which will be routed via National Bank for Agriculture and Rural Development (NABARD).
A credit guarantee trust will create additional credit of ₹2 lakh crore for small businesses.
Desh Stack platform will provide API-based certification and help upskilled people find relevant jobs.
The Finance Minister proposed the use of drones as a service in select Industrial Training Institutes (ITIs) in all states.
A national digital university will be launched, in a hub-and-spoke model, where other public universities will collaborate.
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To improve access to mental healthcare, 23 tele-mental health centres will be launched, with National Institute of Mental Health and Neuro-Sciences (NIMHANS) as the nodal unit, and Indian Institutes of Information Technology (IIIT) Bangalore providing tech support.
₹60,000 crore budget allocation in FY23 to take piped water connections to 8.8 crore homes.
23 tele-mental health centres will be launched to improve access to mental healthcare. NIMHANS will function as the nodal unit, and IIIT Bangalore providing tech support.
PM Awas Yojana, a subsidised housing scheme, gets a budget allocation of ₹48,000 crore.
E-passports with embedded chips will be rolled out in 2022-23 to make it convenient for citizens.
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Minda Industries, Sona Comstar, Greaves Cotton amongst biggest gainers as investors bet on Budget 2022 being EV-friendly
Britannia, Dabur, Marico surge on hopes that budget will leave people with more money to buy stuff
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