Finance Minister Nirmala Sitharaman in her Budget 2022 speech announced a slew of investments on infrastructure. On February 1, the finance minister said, "PM Gati Shakti is driven by seven engines i.e. roads, railways, airports, ports, mass transport, waterways and logistics infra. All seven engines will pull forward the economy in unison. Supported by energy transmission, IT communication, bulk water and sewerage and social infra."

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To boost the infrastructure sector, Sitharaman has allocated Rs 20,000 crore for national highway expansion. "In 2023, 25,000 km additional national highways will be constructed," she said.

She also announced an allocation of Rs 44,000 crore on Ken Betwa river project.

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Presenting the Union Budget 2022-23, Sitharaman said the government would lay the foundation for economic growth through public investment as the country is on the road to recovery amid the COVID-19 pandemic.

Apart from the highway expansion programme, she said that 400 new trains will be manufactured over the next three years.

According to the Economic Survey presented in Parliament on January 31, India needed to spend approximately $1.4 trillion over the next three to four years to achieve its ambitious $5 trillion GDP by financial year 2025.

The Economic Survey mentioned that although India pumped in $1.1 trillion on infrastructure between 2008 until 2017, it now needed to step up infrastructure investments substantially.

First Published:Feb 1, 2022 12:24 PM IST