Indian Prime Minister Narendra Modi has renewed a pledge to spend more than $1 trillion on infrastructure to create jobs for hundreds of thousands of young Indians and boost the economy.
The 100-trillion rupee plan — called"Gati Shakti," which means momentum — was announced on India's 75th Independence Day. Modi said Sunday that it would"break the silos" preventing more efficient transportation in Asia's third-largest economy."This will reduce the travel time for the common man and the productivity of our industry will also increase," he said during an address to the nation in the capital New Delhi.
"Read More"It is often said that during crises, the emphasis should be given on infrastructure so that economic activity is [faster] and people get employment and it generates a cascading effect," he said in a speech on August 15, 2020. A former finance minister — from the opposition Congress Party — mocked Modi for making similar promises on infrastructure expenditure for three years in a row, without providing any updates on past initiatives."India is thrice blessed.
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