Why is it in the News?

The Interim Budget for 2024-25 announcement for implementation of three Economic Railway Corridors identified under the PM GatiShakti for enabling multi-modal connectivity.

Context:

• The Interim Budget for 2024-25 has laid the groundwork for implementing three major Economic Railway Corridors under the PM GatiShakti initiative.
• This will enable multi-modal connectivity, including:
  • Energy, mineral, and cement corridors
  • Port connectivity corridors and
  • High-traffic density corridors

Significance of the Three Corridors:

• Logistics Efficiency Boost: These Corridors serve as catalysts for enhancing logistics efficiency, thereby cutting down on the costs associated with rail transportation.
  • By streamlining rail movements, they pave the way for smoother and more cost-effective logistics operations.
• Alleviating Rail Congestion: One of their primary roles is to alleviate congestion on heavily trafficked rail routes.
  • By diverting some of the traffic to these designated Corridors, the strain on high-density rail networks is relieved, ensuring smoother and more reliable transportation across the board.
• Promoting Modal Shift: The Corridors play a pivotal role in encouraging a modal shift from road to rail and coastal shipping.
  • By providing efficient rail connections and integrating coastal shipping options, they offer viable alternatives to traditional road transport, thereby reducing congestion on highways and minimizing environmental impact.
• Environmental Sustainability: A key benefit of these Corridors is the reduction of the carbon footprint associated with logistics operations.
  • By promoting more environmentally friendly modes of transportation such as rail and coastal shipping, they contribute to mitigating the environmental impact of freight movement, fostering sustainability in logistics practices.

About PM GatiShakti National Master Plan:

• The government of India initiated the Pradhan Mantri Gati Shakti National Master Plan to transform the nation's infrastructure.
• PM Modi launched the PM Gati Shakti National Master Plan (NMP) on 13th October 2021, on the 75th Independence Day to provide multimodal connectivity infrastructure to various economic zones.
• The scheme is expected to smooth out the execution of projects across the nation and foster coordination between different ministries engaged with these projects.

Advantages of PM Gati Shakti:

• It lays out a centralised portal to unite the infrastructural initiatives of 16 central ministries and departments.

• Facilitates these ministries, gives a centralised transportation and logistics grid for smoother data flow and sped up project clearance.
• Large-scale infrastructure projects like UDAAN, expansion of the railway network, Bharatmala, Sagarmala, inland waterways, and Bharat Net will be executed by the Gati Shakti master plan.
• The Gati Shakti master plan aims to create employment potential for a large number of individuals.
• The plan's three primary targets are smooth multimodal connectivity, enhanced prioritisation and optimal usage of resources to create capacities on time, and resolution of issues like standardisation, disjointed planning and clearances.
• The Gati Shakti mission aims to create world-class infrastructure in the country and foster logistical synergy across various modes of movement.     
• The general objective of the drive is to increase competitiveness and economic development in India.