India’s Finance Minister, Nirmala Sitharaman, has stated that India will develop 100 cargo terminals for multimodal logistics facilities during the next three years, adding that as many as 400 new express trains will be launched in a period of three years to facilitate passenger and cargo movement.
The government has also emphasized on infrastructure building through the prime minister’s Gati Shakti scheme, raising the allocation by around 36% over the year. The Railway Ministry has been given US$18.77 billion for the next fiscal year for infrastructural development targeting development in cargo and passenger transportation.
The Gati Shakti scheme in the new fiscal year will see massive spending in the fields of road, railways, highways, ports and public transport. The finance minister described the sectors as seven "engines of growth" and stated that highways will see an expansion of around 25,000 kilometres in the year.
In parallel, Indian railway minister Ashwini Vaishnaw lauded the higher allocations saying this is a continuation of the trend that the railway sector has been receiving since 2014.
Source: container-news.com
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