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The Bharatmala Pariyojana: Infrastructure augmentation towards socio-economic prosperity and Self-Reliant India
Authors
Dr. Gautam Das
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Keywords
Infrastructure, Bharatmala Pariyojana, ToT, InvIT, NHDP
Abstract
The World Development Report in its 1994 annual issue under the auspices of World Bank rightly observed that infrastructure represent, if not the engine, then the wheels of economic activity. Infrastructure development is prerequisite in transforming a slow-moving economy into an advanced one. In the world competitiveness Index, released by IMD, a Swiss foundation tracking and examining four parameters of competitiveness, reported India's overall rank at 37th in 2022 from 43rd in 2021, has witnessed the sharpest rise among the Asian economies, however its performance still ranked at 49 in infrastructure development. India has about 63.72 lakh km of road network, which is the second largest in the world in terms of length. National Highways (NHs) constitute about 2% of the total road network but carry about 40% of the total road traffic. The Bharatmala Pariyojana program envisages a corridor approach in place of the existing package based approach which had, in many cases, resulted in skewed development. The umbrella program of Bharatmala focused on enhanced effectiveness of already built infrastructure, multi-modal integration, bridging infrastructure gaps for seamless movement and integrating National and Economic Corridors. The program was conceptualized to attain optimal resource allocation for a holistic highway development/improvement initiative.
The present study aspires to delve into the details contour of Bhaaratmala Pariyojana undertaken by the Ministry of Road Transport and Highway(MoRTH) under NHDP in order to augment the infrastructural deficiency facing the country. The Ministry is actively pursuing multiple models of monetization of National Highway assets such as: Toll Operate Transfer (TOT) and Infrastructure Investment Trust (InvIT) model besides the existing PPP model. As per the estimates to realise the goal of $ 5 trillion economy by 2025-26 and USD 7 trillion by 2030, India needs huge investment in infrastructure and capacity building. The successful completion of the Bharatmala pariyojana is a great step in the right direction. As the Bharatmala pariyojana Phase-I is almost completed its tenure, the second phase is expected to operationalise by 2024. It has some additional features like Multimodal logistics parks which will provide seamless cargo transfer between Railways cargo, Inland Waterways, Air cargo, Dedicated Freight Corridors, Access-Controlled Expressways, National Highways, State Highways in a Hub and Spoke model. It will make current corridors more effective & will improve connectivity by leveraging synergy with inland waterways.
IJCRT's Publication Details
Unique Identification Number - IJCRT21X0105
Paper ID - 240613
Author type - Indian Author
Page Number(s) - g110-g137
Pubished in - Volume 11 | Issue 6 | June 2023
DOI (Digital Object Identifier) -
No Of Downloads - 237
Author Country - India, 700050, KOLKATA, KOLKATA, 700050, Social Science All
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Dr. Gautam Das, "The Bharatmala Pariyojana: Infrastructure augmentation towards socio-economic prosperity and Self-Reliant India", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.11, Issue 6, pp.g110-g137, June 2023, Available at :http://www.ijcrt.org/papers/IJCRT21X0105.pdf
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