New Delhi
The Economic Survey released on Monday underscores the crucial role of central government investments in driving large-scale infrastructure projects, including highways, seaports, railways, and airports. National Highways construction has surged from 11.7 km per day in FY14 to 34 km per day by FY24. Capital spending on Railways has increased by 77% in the last five years, focusing on new lines, gauge conversions, and doubling existing tracks.
In FY24, 21 new airport terminal buildings have boosted passenger capacity by about 62 million annually. India’s ranking in International Shipments on the World Bank Logistics Performance Index has improved to 22nd in 2023, up from 44th in 2014.
The Survey highlights the need for increased private sector investment and resource mobilization to sustain infrastructure growth. While the central government leads these efforts, state and local governments must also contribute. Currently, 945 km of metro rail and regional rapid transit lines are operational, with 939 km under construction in 27 cities, and 86 km were added in FY24.
Additionally, the clean energy sector attracted Rs 8.5 lakh crore ($102.4 billion) in investments between 2014 and 2023. The UJALA Scheme alone saved 48.42 billion kWh of energy annually, reduced GHG emissions by 39.3 million tonnes, and cut consumer electricity bills by Rs 19,335 crore each year.
