In the Union Budget 2024, we can expect Finance Minister Nirmala Sitharaman to focus more on infrastructure and urban development in the country. In the interim budget, the government had already decided on an 11% increase in capital endowment for infrastructure. Additionally, the Urban Infrastructure Development Fund (UIDF) will witness a significant boost in Urban Infrastructure in Tier 2 and Tier 3 cities, under the National Housing Bank.
As we anticipate development and better planning in the infrastructure sector in the upcoming monsoon budget, let’s take a closer look at the top 6 mega infrastructure projects that India is set to welcome.
The very first bullet train in India, which travels between Mumbai and Ahmedabad was launched by the National High-Speed Rail Corporation. Initially, the project was planned to begin in April 2020. However, due to considerable delays in the construction, the project is slated to end by 2027.
From Mumbai to Gujarat is a stretch of 352 km, and it is expected to become operational by 2027. A smaller segment of 50 km between Surat and Bilimora is scheduled for completion by 2026.
Central Vista located in New Delhi’s Raisina Hill, is the central administrative area in India. The Central Vista Project aims to redevelop and refurbish the administrative area. The primary objective of this project is to encourage long-term continuity and sustainability of infrastructure, protection of heritage buildings and improvement of the public space. The project, which is an initiative of Aatma-Nirbhar Bharat, is still underway.
To upgrade the productivity of the National Corridor in India, the BharatMala mega project aims at the construction and development of roadways, flyovers, bypasses, tunnels, elevated corridors, interchanges, overpasses, etc. The project also includes the Golden Quadrilateral and the North South- East West corridors.
As per reports, by the end of 2026, we might expect the work on Phase I of the BharatMala project to be completed. The total cost of the project is now estimated at INR 8.5 lakh cores.
To improve the overall logistics scenario of the country, the Government of India has undertaken the Sagarmala project. Thanks to this project, now the country will have a more efficient way to utilize and augment the potential of the coastlines and waterways of India.
This ambitious project is set to encourage direct and indirect developments in the port areas. As the goods are transported from one port to another, the Sagarmala project will ensure that the entire process happens very swiftly and efficiently without any roadblocks.
For the unversed, India’s dedicated freight corridor comprises a network of broad-gauge railway lines which have been exclusively constructed for freight trains and their services. This project will ensure that speed and efficiency of freight train operations across the country are enhanced.
India has six main segments of dedicated freight corridors: eastern dedicated freight corridor, nirth0south dedicated freight corridor, southern dedicated freight corridor, western dedicated freight corridor, east-west dedicated freight corridor, and east coast dedicated freight corridor.
The Delhi-Mumbai Expressway is currently under construction. It is a high-speed, access-controlled route spanning a distance of 1350 km with 8 lanes. The Expressway aims to connect the nation’s capital- Delhi to the financial hub of the country- Mumbai. The project was first launched on March 8, 2019.
The 8-line divide will ensure that the travel time is halved from 24 hours to 12 hours. Furthermore, the provision for an additional four lanes has been made for the future, once the train starts running functionally. The Delhi-Mumbai Expressway project is one of India’s most pioneering projects, and it is poised to bring a significant boost to the country’s economic development.
These projects, undertaken by the Government of India, are some of the most noteworthy upcoming, ongoing and completed initiatives meant to better shape the future of the country. These projects are meant to significantly contribute to the nation’s growth and economy.
