Government has given its nod to invest a huge sum of 9.11 lakh crore in infrastructure sector to bring economic boom in the country.
On 25th of October, Union Cabinet has given its nod to invest Rs. 7 lakh crore in infrastructure sector to make highways and roads across the country. Out of this Rs. 7 lakh crore, a big chunk of money will go to Bharatmala Project which is being considered as the second largest highways constructing project since NHDP(National Highways Development Programme).
Bharatmala Project, if successful, will create Rs 2.2 crore of permanent jobs and in long term will increase our GDP. Even the growth rate of the next two decades will depend upon the successful completion of Bharatmala Project.
Let's understand, why this project is that much important to us and what actually it is all about?
What is Bharatmala Projects ?
It will start constructing highways from Gujrat and Rajasthan then it will cover Punjab, Himalayan states (J&K, Himachal Pradesh, Uttarakhand) ,UP, Bihar, West Bengal then northeastern states Arunachal Pradesh, Nagaland, Manipur and Mizoram.
That is this project is making a garland (mala) like structure around the territory of India (Bharat), that's why it is named as Bharatmala Project.
How investment in infrastructure projects will increase our GDP?
1) This ambitious project is going to create millions of jobs. So, these jobs will give money to people and whenever more money comes into the hands of people, they would want to buy something.
And if many people are buying something it will increase its demand and to meet the demand manufacturing activities will increase, which in turn will increase our GDP.
2)It will provide better connectivity between cities.
Better connectivity means less time to travel which means more business.
For example
If Kerala exports coconuts to Arunachal Pradesh,then due to poor connectivity it will take more time, Moreover more diesel will be required.
So we can cut the cost if proper connectivity is there by developing economic corridors.
3)It will bring development in all those areas where infrastructure will be set up.
So rural connectivity will increase.
4)Under this project,roads will be built to connect to Bangladesh,Bhutan and Nepal in more better and economically feasible way. So, it will boost our trade with our neighbours.
Bharatmala Project objectives
A) About 10000 kms of roads are still to be construed under NHDP. This work of NHDP will be done under Bharatmala Project.
What is NHDP ?
National Highways Development Project (NHDP), initiated by our former prime minister Atal Bihari Vajpayee in 1998,aimed at connecting major cities and to make NS(North South) and EW(East West) corridors.
Under NHDP
1) Golden Quadrilateral was made which connects Delhi, Mumbai, Chennai and Kolkata.
SW2)North South corridor was built which connects Kashmir to Kanyakumari.
3) East West corridor connects Porbandar in Western Gujarat to Silchar in Eastern Assam.
4) Under Bharatmala, this quadrilateral,NS and EW corridors will be revamped.
B) 90% of India's total trade is done through ports.
These ports are moderately developed but from the ports to the cities connectivity lacks.So, this issue will also be handled under Bharatmala.
C) This ambitious project will cover complete India.
Some facts
1) Total road to be construed 34800 kms.
2) Only 300 districts have National highway linkages.Bharatmala will provide NH linakge to 550 districts.
3) Average speed in China is 100 kmph on highways whereas in India it is only 60 kmph due to poor infrastructure.
Words of the day
NPA- A loan is called as NPA(Non Performing Asset) when lender is not getting it back.
For example
If SBI circulated Rs 500 crore on loan and out of this, say for Rs 50 crore, No interest is coming and moreover there are very bleak chances of even getting principle amount, then this Rs 50 crore will be categorized as NPA.
NPA is bad loan in plain words.
Nicly written an easy to understand
ReplyDelete