Page 28 - NIS English 01-15,April 2023

Cover Story Budget Webinar

PM GATI SHAKTI NATIONAL MASTER PLAN
Focus on infrastructure development

Any country's ability to progress sustainably depends on its infrastructure. This is why this
year's budget focuses on infrastructure development. It is time for new responsibilities, new
possibilities, and bold decisions for all stakeholders in such a situation. Although modern
infrastructure did not receive the attention it required for a long time after independence, the
importance of highways has been recognised in India for centuries. Infrastructure is now
being developed with long-term thinking by combining it with multimodal connectivity. The
country's economy is driven by infrastructure construction. Following this path, India will
achieve its goal of becoming a developed country by 2047.

Budget Proposals

n This fiscal year, Rs 10 lakh crore will be invested in infrastructure.
n A provision of Rs 3.7 l lakh crore has been made for capital expenditure in the Railways.

n Every year, the government will spend Rs 10,000 crore on urban infrastructure
development.
50 n To increase infrastructure investment and support policy initiatives, the decision was
made to extend 50-year interest-free loans to state governments for one additional year.
50 new airports,
heliports, n A total of Rs 75,000 crore will be invested in 100 critical infrastructure projects that will
and water provide end-to-end connectivity to the port, coal, steel, fertiliser, and food grains sectors.
aerodromes will n By 2024, 100 airports will be built under the UDAN scheme.
be built.

26 New India Samachar April 1-15, 2023