Wednesday, July 24, 2024

Approval Proposed for Four Infrastructure Projects Worth Rs 23,500 Crore

Under the PM Gati Shakti initiative, four infrastructure projects, focusing on roads and railways, with a combined value of Rs 23,500 crore, have been put forward for approval. These projects underwent evaluation during the 58th Network Planning Group (NPG) meeting on October 17.

In a statement issued by the commerce and industry ministry, it was revealed that discussions within the NPG revolved around road and railway projects, with a strong emphasis on achieving multimodal connectivity and an investment exceeding Rs 23,500 crore.

The NPG meeting was presided over by Sumita Dawra, the Special Secretary (Logistics) of the Department for Promotion of Industry and Internal Trade (DPIIT). Dawra urged ministries to adopt an area development planning approach in project planning and engage in productive interactions with states to identify infrastructural gaps, promoting a holistic approach to planning.

The NPG, an inter-ministerial body, convenes every fortnight to evaluate infrastructure projects with the aim of ensuring multi-modality, coordination of efforts, and comprehensive development in and around the project areas.

The PM Gati Shakti initiative was launched with the objective of creating an integrated infrastructure network to reduce logistics costs. All logistics and connectivity infrastructure projects requiring investments exceeding Rs 500 crore must pass through the NPG for approval.

Approval from the NPG is a prerequisite before projects can obtain clearance from the Public Investment Board (PIB) or the Department of Expenditure under the finance ministry.

Notably, a significant proportion of projects recommended by the NPG pertain to roads, railways, and urban development.

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