Union Minister Ashwini Vaishnaw approves Railway projects worth ₹6,405 cr; says India's logistics cost has come down by 4%
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Union Minister for Railways, Ashwini Vaishnaw, quoting a report, today said that India's logistics cost has come down by 4%. Addressing media on Cabinet decisions, Vaishnaw added that the Union cabinet today has also approved two projects of the Railway Ministry, with the total cost being ₹6,405 crore.
Vaishnaw also pointed out that infrastructure projects worth ₹4.58 lakh crore have been approved by the Cabinet in the last one year, translating into opportunities worth ₹10 lakh crore for youth and the middle class.
"During PM Modi's historic third term, many projects have been undertaken to reduce transportation and logistics costs. IIM Bangalore and IIM Calcutta's recent study shows that the investments in transportation have caused a reduction in the country's logistics cost by about 4%," Vaishnaw said.
"Every percentage point reduction in logistics cost means that there will be much more competitive industries. We can export more. We can keep production costs low," he said.
"In the last one year, around ₹4.5 lakh crore of investments have been approved for transportation projects. This will play a big role in helping us achieve our goal of Viksit Bharat," Vaishnaw said.
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The cabinet has approved two projects of the Ministry of Railways with total cost of ₹6,405 crore.
These projects include Koderma – Barkakana Doubling (133 Kms), which passes through a major coal producing area of Jharkhand. Furthermore, it serves as the shortest and more efficient rail link between Patna and Ranchi.
The second project is Ballari – Chikjajur Doubling (185 kms.). This project line traverses through Ballari and Chitradurga districts of Karnataka and Anantapur district of Andhra Pradesh.