India is on a high growth trajectory due to infra investments: Ashwini Vaishnaw

Union Minister Ashwini Vaishnaw today said that India is on a high growth trajectory due to the investments made by the government in the infrastructure sector in the last couple of years.

Vaishnaw said during Cabinet briefing today that infrastructure projects worth ₹10.74 lakh crore have been approved by Prime Minister Narendra Modi till date in the third term. Vaishnaw said the policy of capital expenditure helped India face the covid blues while the other global economies are still struggling.

“To lay the foundation of Viksit Bharat, PM Narendra Modi has approved infrastructure projects worth ₹10.74 lakh crore in the in third term. The entire world opted for a consumption-based solution post Covid, but PM Modi implemented an infrastructure-based solution,” Vaishnaw said during the briefing.

“Due to this, while there is a lot of economic uncertainty globally, India is on a high growth trajectory. After about eighteen years, India’s sovereign ratings have been upgraded. This is a proof of the agility of the Indian economy. The reason behind all this is the investment in infrastructure done over the last couple of years," he said.

Cabinet clears projects worth ₹9,814 crore

Vaishvaw said the Cabinet today approved construction of new airport at Kota in Rajasthan at an investment of ₹1,507 crore. "The airport will come up in the next two years."

Cabinet also approved six lane access-controlled ring road in Cuttack and Bhubaneshwar at an investment of ₹8,307 crore,” said Vaishnaw.

“The government of Rajasthan has transferred 440.06 hectares of land to AAI for development of a greenfield airport, suitable for operation of A-321 type aircraft,” said a government release.

“The project includes construction of a Terminal Building spanning an area of 20,000 sqm capable of handling 1000 Peak Hour Passengers (PHP) with annual capacity of 2 Million Passengers Per Annum (MPPA), Runway 11/29 of dimensions 3200m x 45m, Apron with 07 parking bays for A-321 type aircraft, two link taxiways, ATC cum technical block, fire station, car park and allied works,” it added.