Part of: GS Prelims and GS – II – Policies and Interventions
In news On India’s 75th Independence Day, the Prime Minister announced that the Centre will launch ‘PM Gati Shakti Master Plan’.
He also set a target of making India energy independent by 2047 by replace petroleum with other forms of energy and announced a National Hydrogen Mission, noting the country spends Rs 12 trillion on energy imports every year.
What is Gati Shakti Master Plan?
It is a Rs. 100 lakh-crore project for developing ‘holistic infrastructure’.
The plan is aimed at easier interconnectivity between road, rail, air and waterways to reduce travel time and improve industrial productivity.
The push for infrastructure is in line with the government’s efforts to step up capital expenditure in infrastructure to promote economic growth.
What are the focus areas of the project?
The project will be a source of employment opportunities for the youth in future.
Infrastructure development has the ability to create a multiplier effect with every rupee invested, yielding much higher returns.
It will help raise the global profile of local manufacturers and help them compete with their counterparts worldwide.
It also raises possibilities of new future economic zones.
It is also help to increase both manufacturing and exports.
