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Source: Business Standard (Article 1, Article 2), Times of India and Livemint
What is the News?
The Prime Minister has announced that the Centre will soon launch the ‘PM Gati Shakti Master Plan’.
About PM Gati Shakti Master Plan:
- PM Gati Shakti Master Plan is a 100 lakh crore national infrastructure master plan. It aims to make a foundation for holistic infrastructure and give an integrated pathway to our economy.
Key objectives of the Plan:
- 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.
Note: India has been working for a reset of its logistics sector involving railways, highways, inland waterways and airports to put in place an effective transportation grid. Logistics make up about 13% of costs for Indian companies making exports uncompetitive vis-a-vis China.
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