Ensuring a SAFE Voyage!!!

Indian economic engine is working at full throttle with a slew of policy measures ably fuelling the growth momentum, especially on the infrastructure front. To start with, the Union Cabinet recently approved the implementation of the fourth phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY-IV) for the construction of 62,500 km of new roads providing all-weather connectivity to 25,000 villages. The Cabinet, Chaired by Prime Minister Narendra Modi, approved the proposal for the financial years 2024-25 to 2028-29 with a total outlay of Rs.70,125 crore, a statement said.

The Ministry of Road Transport and Highways has also announced a significant initiative to build 74 new tunnels across India, totalling 273 km in length. Road Minister Nitin Gadkari announced that this extensive project, designed to enhance the nation’s highway infrastructure, is projected to cost around Rs.1 trillion. The Minister also highlighted that to date, 35 tunnels have been completed, stretching 49 km, at a cost of Rs.15,000 crore. Another 69 tunnels, covering 134 km, are in progress, with an estimated expenditure of Rs.40,000 crore. The minister emphasised the vital role of regular performance audits in overseeing construction projects, highlighting that “performance audit is more important than financial audit” to ensure timely and high-quality project delivery. “India is comfortably placed in 6-8% growth band,” Union Minister Ashwini Vaishnaw mentioned during his address at a recent event. There are four pillars of growth, the minister said – investment in public infra, inclusive growth, manufacturing and simplification of laws. The railways minister observed that from 2014 to 2024, India constructed 14,985 kms of railway tracks, which is higher than a rich country like France achieved during the same time frame. During 2004-14, the km count of railway tracks in India was at 14,000 kms, but in the last 10 years the count has crossed 31,000, he said.

Moreover, the Minister also announced that the Kavach technology will now be implemented in mission mode in the country. The Kavach Automatic Train Protection (ATP) system, known for its high technology intensity and stringent safety certifications, will now be implemented rapidly. This system aids train operators by automatically applying brakes if necessary and ensures safe train operation during adverse weather conditions. The push for faster installation follows recent tragic train collisions. All these announcements are tell-tale signs of a bustling economy where Infrastructure has the biggest role to play. The industry stakeholders are already charged with great enthusiasm to take this trajectory in the forward momentum through their state-of-the-art products & services. With every stakeholder taking the onus upon themselves to drive growth, we are in for the biggest economic bang that the country has ever witnessed or achieved!

With new hopes & vigour, here’s to great FESTIVE SEASON that’s upon us…