Context
- On India’s 75th Independence Day, the Prime Minister of India announced that the Centre will launch ‘PM Gati Shakti Master Plan’.
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Key features
- About Gati Shakti Master Plan: It will be a Rs. 100 lakh-crore projects for developing ‘holistic infrastructure’. It is expected to be the source of employment opportunities for the youth in the future.
- Aim: To make a foundation for holistic infrastructure and give an integrated pathway to our economy.
- Key Objectives: It has the following objectives-
- To provide easier interconnectivity and reduce travel time between road, rail, air, and waterways
- To improve industrial productivity
- To make local manufacturing globally competitive
- To facilitate future economic zones and
- To create employment.
- Expected Outcomes
- Enhanced Competitiveness of Local Indian Manufactures in the global economy, helping them compete with their counterparts worldwide.
- Multiplier effect: Investment in Infrastructure development have a multiplier effect with every rupee invested, yielding much higher returns.
- It also raises possibilities of new future economic zones.
Mission Schools of Excellence Project of Gujarat Government
Additional Information
- National Infrastructure Pipeline (2019-25): similar to the above plan, it was launched in the Union budget speech of 2019-2020.
- It provides for an outlay of Rs 102 lakh Crore for infrastructure projects over the next 5 years, with the center, States, and the private sector to share the capital expenditure in a 39:39:22 formula.
- Objectives:
- To provide world-class infrastructure across the country and improve the quality of life for all citizens.
- Ensure Inclusive Growth: by investing in socio-economic infrastructure that creates jobs, improves ease of living, and provides equitable access to infrastructure for all.
- Coverage: Both economic and social infrastructure projects are to be developed under this master plan.
Classification of Directive Principles of State Policy (DPSPs)
FAQs
When was the 'PM Gati Shakti Master Plan’ was launched ?
'PM Gati Shakti Master Plan’ was launched by the Prime Minister of India on the occasion of India’s 75th Independence Day,
What is the purpose of 'PM Gati Shakti Master Plan’ ?
PM Gati Shakti Master Plan will be a Rs. 100 lakh-crore projects for developing ‘holistic infrastructure’. It is expected to be the source of employment opportunities for the youth in the future.