Outlining their agenda for five years, the current government
announced a slew of measures to push growth and create jobs, which will include
encouraging investment and creating a predictable, transparent and fair
environment.
Prime Minister of India – Mr. Narendra Modi upon
reviewing the progress of eight major infrastructure sectors in the country as
part of his monthly review meetings officially stated that, accelerated infrastructure development
was his top priority and that he senses the need to create world-class
infrastructure. The eight sectors under the area of focus are: civil aviation,
ports and inland waterways, roads, railways, telecom, power, coal, and new and
renewable energy.
Further, the Prime Minister emphasised the
importance of monitoring the progress of infrastructure development through
efficiency parameters identified for each sector which their respective Ministries
should monitor on electronic reporting formats. Adding further, the initiatives
undertaken by state governments as well as PSUs with other countries, including
SAARC (South Asian Association for Regional Cooperation) countries,
should also be taken into account while monitoring the progress of infrastructure
sectors.
Connecting to the aspects of infrastructure
development, Mr. Modi also spoke on the “Sagar Mala” project, announced by him in
June this year. This project is aimed at interconnecting all coastal cities in
India through road, rail, ports and airports through a special development
package. The project would enhance the unique identities of these coastal
cities in consonance with sea-side life.
The ideology of infrastructural development would
also become a major link for Mr. Modi’s "Make in India" vision, which
invites other countries to manufacture their products in India and sell them to
other countries. The success of this ideology will ultimately envisage a
quantum jump in India's global trade.
The railways have also been asked to come up with a
comprehensive plan to facilitate FDI, as a clearance for 100 percent foreign
direct investment (FDI) has been granted in their sector.
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