FM Sitharaman Attributes Infrastructure Turnaround to PM Modi’s Leadership

GG News Bureau
New Delhi, 16th May. Finance Minister Nirmala Sitharaman lauded Prime Minister Narendra Modi’s proactive approach and personal oversight for the remarkable turnaround in India’s infrastructure sector. Sitharaman credited Modi’s active role for revitalizing an area that suffered from policy paralysis during the UPA regime, emphasizing the transformative impact of the current government’s infrastructure initiatives.

Highlighting the stark contrast between the present administration and its predecessor, Sitharaman criticized the UPA-led government for neglecting infrastructure development, which hindered India’s economic growth potential and left it among the ‘Fragile Five’ economies. She underscored the consequences of decision stasis, cost overruns, and stalled projects that characterized the UPA era.

In contrast, Sitharaman praised PM Modi’s hands-on approach, citing his personal monitoring of projects through the PRAGATI platform and the successful completion of long-delayed initiatives. She revealed that PM Modi had reviewed projects worth ₹17.36 lakh crore through 43 PRAGATI meetings, emphasizing the government’s commitment to infrastructure advancement.

Governments across the world emphasise and try to focus on capital expenditure to build quality infrastructure and assets. Quality Infrastructure brings comfort, convenience and ‘ease of living’ to every citizen.

Every km of road, every railway track, and every bridge built… pic.twitter.com/mNpLeLGZfI

— Nirmala Sitharaman (Modi Ka Parivar) (@nsitharaman) May 15, 2024

Sitharaman outlined the economic benefits of infrastructure spending, citing studies indicating its multiplier effects on GDP growth and efficiency enhancement. She lamented the reduction in capital expenditure (Capex) under the UPA regime and criticized the Congress government in Karnataka for slashing Capex in its 2024 Budget, highlighting the opportunity cost of inadequate investment in infrastructure.

Providing comprehensive statistics, Sitharaman showcased the Modi government’s achievements in various sectors, including rural roads, national highways, railways, power, aviation, and maritime infrastructure. She highlighted significant increases in budget allocations and infrastructure expansion across these domains since 2014, attributing these accomplishments to the government’s concerted efforts under PM Modi’s leadership.

Sitharaman concluded by affirming the government’s commitment to fostering a robust infrastructure ecosystem, essential for driving economic growth and enhancing India’s global competitiveness.