STEPS to ENHANCE INFRA GROWTH
India's economic growth rate is the result of a resilient economy and prudent fiscal policies of the government. The Union Budget for 2023-2024 continues its focus on this path and the commitment to 'green growth' approach will further boost the economy. Infrastructure is the most critical aspect of any economy and the highest ever capital investment outlay of Rs 10 lakh crores is the most commendable. Combined with the enhanced capital outlay of Rs 2.40 lakh crore provided for railways, these steps will go a long way in upgrading infrastructure, assets, systems, and facilities by leveraging technology and promoting a sustainable approach.
Olivier Loison
Managing Director, Alstom India
India's economic growth rate is the result of a resilient economy and prudent fiscal policies of the government. The Union Budget for 2023-2024 continues its focus on this path and the commitment to 'green growth' approach will further boost the economy. Infrastructure is the most critical aspect of any economy and the highest ever capital investment outlay of Rs 10 lakh crores is the most commendable. Combined with the enhanced capital outlay of Rs 2.40 lakh crore provided for railways, these steps will go a long way in upgrading infrastructure, assets, systems, and facilities by leveraging technology and promoting a sustainable approach.
More importantly, the government is promoting greater private sector participation in infrastructure and railways. This is critical for the growth of the sector as it will help enhancing accessibility and mobility, connecting people and communities, integrating markets, and facilitating trade, and generating greater job opportunities. We are glad to see the continued focus on infrastructure projects to improve connectivity and facilitate movement of goods and products across the country, will support in the development of indigenous industries, thereby contributing to the 'Make in India' ambition and making India 'Aatmanirbhar'. This will lead to an uptake in sustainable and modern urban mobility solutions, like metros, in Tier II & III cities as well. To encourage logistics, we expect more impetus on freight movement by rail, which will create the demand for more electric locomotives of high horsepower, which will increase capacity and speed of goods transportation, while reducing emissions, to bring better efficiencies of scale and attain the vision of net zero emissions.
The National Hydrogen Mission will support India's ambition of becoming the world's first Green Railways, with a growing fleet of hydrogen-powered passenger trains. As the world's first and only hydrogen train manufacturer with passenger service, we are following with great attention Indian Railway's interest for hydrogen trains in coming years. Alstom would be glad to contribute to the transition to zero-emission solutions in India.
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