Government, not railways and roads, is spending more on infrastructure than America and European countries
The focus of the Modi government is to make India a $5 trillion economy. For this, the government is paying special attention to infrastructure and has set a target of spending $122 billion in the current financial year to develop it.
India is going to spend 1.7 percent of its GDP on transport infrastructure in the current financial year. This is double the expenditure incurred by the US and European countries. Through this, the government's effort is to rapidly develop the transport infrastructure in the country, so that the country can rapidly achieve the target of a $ 5 trillion economy.
It was told by the Modi government that in the financial year 2023-24, the government is going to spend $ 122 billion on transport infrastructure, due to which a large number of jobs will be created in the country.
The focus of the Government of India is on developing the entire infrastructure of the country from railways. According to the official figures released by the government, the Modi government is going to spend Rs 2.4 lakh crore in the current financial year, which is 9 times more than the capital expenditure done in 2013-14. Vande Bharat train is also being started by the government on major routes of the country.
At the same time, the government also has a focus on roads and for this, a budget of 2.7 lakh crore has been allocated for 2023-24. Apart from this, focus is also being laid on the airport and waterways.
A target of 5 trillion economy has been set by the central government, currently, India's economy is 3.5 trillion dollars. Through this, the efforts of the government will speed up the pace of the Indian economy.
In the last eight years, the highway network in the country has increased by 50,000 km. The rural road network has increased from 3,81,000 km in 2014 to 7,29,000 km in 2023.
