The Interim Budget for 2024-25 has unveiled plans to implement three Economic Railway Corridors under the PM GatiShakti initiative, aiming to enhance multi-modal connectivity and reduce logistics costs associated with rail transport.
About Economic Railway Corridors:
- The Economic Railway Corridors were identified under the PM GatiShakti for enabling multi-modal connectivity to reduce logistics costs related to rail movement.
- PM- GatiShakti included multimodal connectivity including energy, mineral, and cement corridors, port connectivity corridors, and high-traffic density corridors.
- This will push logistics efficiency, decongest high-density rail routes, and facilitate a modal shift from road to rail and coastal shipping, thereby reducing carbon footprint in logistics.
- Investment in infrastructure development will generate employment opportunities and have a multiplier effect on the economic growth of the country.
Comprehensive approach to infrastructure development under PM GatiShakti:
PM GatiShakti (PMGS) National Master Plan:
- The use of GIS-data-based planning platforms, AI, and advanced tools in PMGS NMP is a significant step towards efficient and integrated infrastructure planning.
- The Area Approach, which includes both economic and social sector assets, demonstrates a holistic perspective in identifying and addressing infrastructure gaps.
- The gap analyzer tool and site suitability tool are valuable features for optimizing the allocation of resources and ensuring the strategic placement of essential facilities.
Unified Logistics Interface Platform (ULIP):
- ULIP’s focus on providing ease of logistics is essential for streamlining transportation and supply chain processes, contributing to overall efficiency.
- Facilitating logistics efficiency is crucial for attracting foreign direct investment (FDI) by reducing risks associated with infrastructure investments.
RFID Technology, Big Data Analytics, and IoT-based Logistics Data Bank (LDB):
- The integration of these technologies in the Logistics Data Bank enhances visibility, traceability, and efficiency in the logistics sector.
- Predictive planning and data-driven decision-making are facilitated, contributing to overall effectiveness and cost optimization.
Impact on Ease of Living and Ease of Doing Business:
- Technological interventions contribute to the efficiency of logistics and infrastructure and positively impact on the quality of life and business operations.
- Streamlined logistics and efficient infrastructure are key factors in attracting businesses and fostering economic growth.
Key initiatives under PM GatiShakti under Interim Budget:
- Expansion of existing airports, and development of new airports;
- India-Middle East-Europe Economic Corridor, a strategic and economic game changer for India.
- Comprehensive development of iconic tourist centers by enhancing port connectivity, tourism infrastructure, and amenities on Indian Islands.
- Expansion of Metro Rail and NaMo Bharat in large cities focusing on transit-oriented development and promoting ease of living.
- The setting up of more medical colleges by utilizing the existing hospital infrastructure under various departments and upgradation of Anganwadi centres.
- This would be under “Saksham Anganwadi and Poshan 2.0” for improved nutrition delivery, and early childhood care.
Ref: Source
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