Finance Minister Nirmala Sitharaman on Tuesday said the PM Gati Shakti National Master Plan is a transformative approach for economic growth and sustainable development and is driven by seven engines roads, railways, airports, ports, mass transport, waterways and logistics infrastructure.
All seven engines will pull forward the economy in unison, Sitharaman said while presenting the Budget for 2022-23.
These engines are supported by the complementary roles of energy transmission, IT communication, bulk water and sewerage and social infrastructure.
The approach is powered by clean energy and Sabka Prayas (efforts of the central government, the state governments and the private sector together), leading to huge job and entrepreneurial opportunities for all, especially the youth, Sitharaman said in her Budget Speech.
She added that the scope of the PM Gati Shakti National Master Plan will encompass seven engines for economic transformation, seamless multimodal connectivity and logistics efficiency. It will also include infrastructure developed by state governments as per the Gati Shakti National Master Plan.
The four focus areas will be planning; financing, including through innovative ways; use of technology; and speedier implementation.
The projects related to these seven engines in the national infrastructure pipeline will be aligned with the PM GatiShakti framework, according to the Budget Speech.
The touchstone of the master plan will be the world-class modern infrastructure and logistics synergy among different modes of movement and location of projects. This will help raise productivity and accelerate economic growth as well as development, the finance minister said.
The FM further said Rs 20,000 crore will be mobilised through innovative ways of financing to complement the public resources.
The data exchange among all mode operators will be brought on the Unified Logistics Interface Platform (ULIP), designed for application programming interface (API).
This will provide for efficient movement of goods through different modes, reducing logistics cost and time, assisting just-in-time inventory management and eliminating tedious documentation, Sitharaman added.
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, said the finance minister during her speech.
Contracts for the implementation of multimodal logistics parks at four locations through the PPP mode will be awarded in 2022-23.
Railways will develop new products and efficient logistics services for small farmers and small and medium enterprises. It will also take the lead in the integration of postal and railways networks to provide seamless solutions for the movement of parcels, she added.