Modi has always given importance to infrastructure development, as the growth of a country majorly depends upon the infrastructure. Emphasis on infrastructure development is the need of the hour. The day he took over the PMO it was certain that his focus is going to be clearly on infrastructure and the manufacturing sector. It will not only encourage investment, but will also produce the required employment opportunities, will trigger human resource development, agricultural prosperity and industrial growth.
Modi had once said, “India’s progress is incomplete without rapid expansion and up gradation of basic infrastructure which will help to usher in “an era of historic growth.”
Freight transportation plays a crucial role in any country’s economy. Smooth and hassle free flow of freight transportation will not only give a boost to the economy but will also lessen the transportation costs, thus resulting in lesser prices of goods. The NDA Government is working in the right direction to revive growth in the country. Many infrastructure (road building) projects have been green lighted which look promising from the development front.
The government may soon come up with an ambitious Rs 3-lakh-crore Economic Corridor project to develop 35,000 km of highways for faster movement of freight which will be the second largest project in the sector after the flagship road building programme of NHDP which saw development of 50,000 km of National Highways network as per global standards including the Golden Quadrilateral project.
The proposed Economic Corridor will overtake Ministry’s National Grid Project where NHAI has prepared a plan for grid connectivity through 27 horizontal and vertical highways.
(ANI)A Road Transport and Highways Ministry official speaking at a meet said “A Road Transport and Highways Ministry-appointed study for economic corridors by global consultancy firm AT Kearney has identified 40 such economic corridors totalling about 35,000 km,”
He also added, “The project is aimed at faster movement of cargo and would not only under developing economic corridors with a length of about 21,000 km but also developing 14,000 km of feeder routes, i.e. providing connectivity to logistic hubs.”
“A rough estimate suggests about Rs three lakh crore on the project and the scheme is being finalised,”
The economic corridors include Mumbai-Cochin-Kanyakumari, Bangalore-Mangalore, Hyderabad-Panji and Sambalpur-Ranchi to name a few, the official added.
The official said, “The project would be taken into phases and would be awarded under various modes that include build, operate, transfer (BOT) toll mode and the newer hybrid annuity mode (HAM) under which the while the government provides 40 per cent of the project cost the developer has to arrange for remaining 60 per cent”.
Once completed the economic corridors would reduce the travel time and result in reduction in logistics costs.
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