In a push to strengthen India's logistics infrastructure, the Ministry of Finance has announced the identification of 434 projects under the PM Gati Shakti initiative.
Ministry of Finance posted on X, "With 434 projects identified under the three major economic corridor programmes, PM Gati Shakti for Multi-Modal Connectivity will ensure both, the logistic efficiency and logistic cost. #BudgetForViksitBharat"
These projects, part of three major economic corridor programmes, aim to improve multi-modal connectivity and enhance logistics efficiency, with a massive outlay of Rs. 11.17 lakh crore.
The three key economic corridors under the programme are the Energy, Mineral, and Cement Corridors; Port Connectivity Corridors; and High Traffic Density Corridors. Together, these corridors will ensure streamlined transportation networks that cater to the growing demand for efficient logistics, benefiting critical industries such as energy, cement, and port operations.
The Ministry of Finance highlighted the progress in a post on X, stating, "With more than 91 #GatiShakti Cargo Terminals #GCT commissioned and 234 in-principle approvals granted, the #GCT is scaling up multimodal logistics facilities for #PMGatiShakti. #BudgetForViksitBharat"
This announcement underscores the government's commitment to fulfilling its budgetary promises aimed at driving economic growth and infrastructural development.
Significant progress has already been made under the Gati Shakti Cargo Terminal (GCT) programme. As of October 31, 2024, 91 terminals have been commissioned, and 339 applications for developing new terminals have been received.
Furthermore, 234 projects have been granted in-principle approvals, reflecting the rapid pace of implementation under the initiative.
A deeper look at the progress reveals that 192 projects belong to the Energy, Mineral, and Cement Corridors, 200 are part of the High Traffic Density Routes, and 42 focus on Port Connectivity.
Out of these, Detailed Project Reports (DPR) have been prepared for 156 projects. Among them, 68 projects covering 6,290 km of track length and costing Rs. 1,11,663 crore have been sanctioned.
Additionally, 88 projects spanning 10,603 km are undergoing appraisal and inter-ministerial consultations, with an estimated cost of Rs. 2,25,301 crore.
This corridor-based approach is set to revolutionize India's logistics sector by increasing efficiency and significantly reducing costs. The initiative aligns with the government's broader vision under the 2024-25 Union
Budget to create a developed India, or "Viksit Bharat," by investing in infrastructure and fostering economic growth.
Source Name : Economic Times