Budget 2022: PM Gati Shakti Master Plan will give big boost to warehousing, logistics; slash shipping costs
Finance Minister Nirmala Sitharman said that PM Gati Shakti Master Plan for expressways will be formulated in 2022-23.
- Sitharaman said that the plan will facilitate the faster movement of people and goods.
- She added that the National Highway network will be expanded by 25,000 km in 2022-23.
New Delhi: During the Budget 2022 presentation on Tuesday (February 2), Union Finance Minister Nirmala Sitharman said that PM Gati Shakti Master Plan for expressways will be formulated in 2022-23.
Sitharaman said that the plan will facilitate the faster movement of people and goods. She added that the National Highway network will be expanded by 25,000 km in 2022-23.
Rs 20,000 crore will be mobilised to complement public resources, the Finance Minister had announced. Moreover, 100 PM Gati Shakti Cargo terminals will be developed over the next 3 years.
Anuj Puri, Chairman – ANAROCK Group, said that the FM clearly emphasised the top priorities of the government - PM Gati Shakti for sustainable growth, inclusive development, productivity enhancement, and financing of investments.
“PM Gati Shakti will encompass the seven engines for multi-modal connectivity for the states with speedier implementation of development projects through technology to facilitate faster movement of people and goods through Rs 20,000 crore financed by the govt to speed up this project. Further, the 100 PM Gati Shakti Cargo terminals to be developed over the next 3 years will provide much impetus to the logistics sector,” he added.
Manish Dabkara, CMD & CEO, EKI Energy Services Ltd, said that the PM Gati Sakti Plan will encourage a strong pathway towards environmental-friendly transportation development.
Shyam Arumugam, Managing Director, Industrial and Logistics Services, Colliers India, said that the Gati Shakti Masterplan for expressways, 100 new cargo terminals for multi-nodal logistics, and development of urban metro systems will give a big boost to new warehousing and logistics facilities across the country.
“The government also plans to launch ‘Ease of Doing Business 2.0.’ This should include more dynamic aspects and make India a more investment friendly destination,” Arumugam said. Also Read: Budget 2022: ECLGS extension, Ease of Doing Business 2.0 to help MSMEs recover from pandemic blues
Farshid Cooper, MD, Spenta Corporation, said, “Budget 2022-23 is being looked at quite the booster for the infrastructure industry with focus on PM Gati Shakti National Master Plan for Multi-Modal Connectivity aimed at coordinated planning and execution of infrastructure projects mainly by bringing down the logistics costs. This will surely help the PPP model to emerge and provide employment and real estate development in smaller areas.” Also Read: Budget 2022: Tax benefits extended for 1 year to give big boost for startups, say experts