Infrastructure development is the driving force for the economy: Modi
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In a post-budget webinar organized on the topic of infrastructure and investment, Modi said that this year’s budget provides new energy to the development of infrastructure sector in the country.
Prime Minister Narendra Modi on Saturday said the government considers infrastructure development as a driving force for the economy and will help India become a developed country by 2047. In a post-budget webinar organized on the topic of infrastructure and investment, Modi said that this year’s budget provides new energy to the development of infrastructure sector in the country. “We consider infrastructure development as a driving force for the economy. By following this path, India will achieve the goal of becoming a developed nation by the year 2047.
The Prime Minister said that now there is a need to increase the pace of this development and take it into ‘top gear’. He said that ‘Pradhan Mantri Gati Shakti National Master Plan’ will play an important role in this. He said that the government is working towards creating modern infrastructure in all sectors like road, railway, port and airport. He added that this would help in increasing competition among the businesses and reduce the ‘logistic’ cost. Under the National Infrastructure Pipeline, the government aims to invest Rs 110 lakh crore by the year 2025.
The Prime Minister said that the government’s capital investment has increased five times as compared to the financial year 2013-14. Capital expenditure for infrastructure development has been increased by 33 percent to Rs 10 lakh crore in the budget for the financial year 2023-24. Giving several examples, Modi said, “Infrastructure is very important for the development of any country. Those who follow the history of infrastructure sector know this very well.
Modi said that for many decades, there was a mindset in India that poverty was a virtue and previous governments faced difficulty in investing in the country’s infrastructure. He said, “Our government has not only taken the country out of this thinking but it is also investing a lot on modern infrastructure.” Referring to the rapid pace of development of highways and airports during his government’s tenure, the Prime Minister said that the Gati Shakti National Master Plan is going to infuse new life into India’s infrastructural and multimodal logistics scenario.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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