PM-DevINE for North East
Part of: GS-Prelims and GS-III: Indian Economy
Context: A news scheme has been launched in the Union Budget 2022 – Prime Minister’s Development Initiative for North-East, PM-DevINE.
- Will be implemented through the North-Eastern Council
- An initial allocation of Rs. 1,500 crore will be made for the new scheme.
- It will fund infrastructure, in the spirit of PM GatiShakti, and social development projects based on needs of the North-East.
- Enable livelihood activities for youth and women, filling the gaps in various sectors.
A Rs. 100 lakh-crore project for developing ‘holistic infrastructure’ – Will encompass the seven engines for multi-modal connectivity for the states with speedier implementation of development projects through technology to facilitate faster movement of people and goods through Rs 20,000 crore financed by the government to speed up this project
- To reduce the logistics cost – a transformative approach, driven by roads, railways, ports, airports, mass transport, waterways and logistics infrastructure. All seven engines will pull the economy forward in unison
- Unshackle bureaucratic entanglements and end inter-ministerial silos that delay infrastructure projects and drive up costs
- Sets sectoral targets to be completed by 2024-25 in areas such as expanding national highways and increasing cargo capacity by the railway and shipping ministries
Significance: Currently, the logistics cost in India is about 13% of the GDP whereas in other developed countries it is to the extent of 8%. Government is committed to reduce the cost of logistics to ensure
- Competitiveness of our manufacturing sector,
- Better realisation of prices to farmers
- Availability of goods at cheaper prices to consumers
News Source: PIB
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