India is striving to create an infrastructure that endures while minimising its ecological footprint; the results are impressive
Over the past 76 years since independence, progress in infrastructure development has shown a steady rise, constructing essential assets needed for the country across various areas like transportation, housing, commercial development, communication, and sanitation. With a keen focus on strengthening its infrastructure, India has been transforming its cities, towns, and villages into centres of creativity, connectivity, and economic energy. India is on the path of major change in the field of infrastructure over the next 25 years, guided by Prime Minister Modi’s goal to transform India into a developed nation by 2047.
Preparing for Amrit Kaal
Solid infrastructure forms the foundation for any advanced economy. The Union Budget 2023–24 reflected the government’s dedicated push for infrastructure development. The budget featured a plan to extend the 50-year interest-free loan to the state government for another year. The extension motivates the state governments to invest in infrastructure and take supportive policy actions. The allocated amount has been notably increased to Rs. 1.3 lakh crore. In addition, the budget for building infrastructure was raised by 33%, to Rs 10 lakh crore. This amount made up 3.3% of the GDP, three times higher than the allocation in 2019–20.
The Budget 2023 also included the establishment of a new Finance Secretariat to enhance the chances for private investments in various infrastructure projects. This initiative is aimed at encouraging more private funding in areas like railways, roads, urban infrastructure, and power, benefiting all involved parties.
The term "Amrit Kaal," which means the "Era of Nectar," signifies the government's goal to establish prosperous urban areas with contemporary facilities. Within Amrit Kaal, infrastructure stands as the foundation, propelling economic progress, societal advancement, and ecological sustainability. The Budget 2023–24 is aligned with the vision of Amrit Kaal, as it allocates substantial funds for boosting infrastructure development, further supporting the transformation of cities into thriving, modern, and sustainable hubs.
Key Infrastructure Projects:
India’s achievements in the realm of infrastructure are evident in the implementation of several ambitious projects that have reshaped the country's landscape. The Bharatmala Project is one of the major projects. This road development initiative has connected far-flung regions, reduced travel time and boosted trade and tourism. It exemplifies the government's commitment to improving connectivity across the nation. Launched in 2017, the Bharatmala Project aims to construct 34,800 kilometres of highways at an estimated cost of over ?5.35 lakh crore The Gati Shakti and Industrial Corridors are another major infrastructural project undertaken. Implemented in 2019, the main objective of the project is to ensure integrated planning and implementation of basic infrastructure projects over the next four years, with a focus on expediting on-groundwork, cost reduction, and employment generation.
With the Sagarmala Project, the Indian government aims to improve port facilities and connectivity, thereby stimulating trade and coastal economies. It aligns ports with road, rail, and water networks, bolstering maritime prowess. The Indian Railways have also witnessed massive capacity expansion through line doubling and electrification. Additionally, the Vande Bharat Trains are a major success. An epitome of Make in India, the Vande Bharat trains have transformed the way India travels.
Sustainable Infrastructure:
The integration of sustainable practices within India's infrastructure paradigm is a testament to the nation's awareness of environmental concerns. By emphasizing renewable energy, eco-friendly construction methods, and waste management, India is striving to create an infrastructure that endures while minimizing its ecological footprint.
RITES Limited, a public-sector undertaking under the Ministry of Railways, stands as a key player in leveraging India's sustainable infrastructure landscape. Sustainable infrastructure has a plethora of benefits, as it not only ensures environmental sustainability but also fosters economic and social processes.
It goes without saying that to realise the aim of reaching a US$5 trillion economy by 2025, India’s infrastructure development is pivotal. India's journey towards robust infrastructure development has been nothing short of extraordinary. Various schemes and policies, such as the National Infrastructure Pipeline (NIP) and the PM Gati Shakti Master Plan, are taking the infrastructure landscape of the country to great heights. With key projects implemented and innovative ones set in motion, India's infrastructure growth remains an instrumental force in propelling the nation’s economic prosperity.
(The writer is a Professor, the Department of Economic Studies and Policy, Central University of South Bihar)
