India requires Rs 845-880 lakh-cr infrastructure investment to match China's growth
The Council of Ministers has proposed that India needs an investment of Rs 845-880 lakh crore between 2023 and 2047 to match China's infrastructure development and financial growth. The recommended roadmap includes targets to increase highway length by 1.6 times, port capacity by four times, and double the railway network. This includes laying 20,000 km of elevated tracks and 4,500 km of bullet train corridors in the next 24 years. The plan also involves expanding the Vande Bharat trains to 4,500 and implementing the indigenous anti-collision system, Kavach, in all trains. A significant portion of the investment, around 56%, would be allocated to upgrading urban infrastructure, including the establishment of a 5,000 km mass rapid transit system (MRTS) across 75 cities. The focus will be on using the Finance Commission (FC) and Centrally Sponsored Schemes (CSS) to drive reforms in governance, planning, and finances of urban local bodies (ULBs).
📅Published on:
14 July 2023
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