Latest news with #Bharatmala
Time of India
4 days ago
- Business
- Time of India
Demand to extend Kundannoor-Angamaly bypass to Kodungallur
Kochi: Aiming to decongest the key road stretch connecting Kodungallur and Angamaly, a fresh demand is being raised to extend the ongoing Kundannoor-Angamaly Bypass Road project on national highway (NH) 544 up to Kodungallur. Tired of too many ads? go ad free now Benny Behanan, MP, has approached Union minister of road transport and highways Nitin Gadkari with the demand to construct a six-lane highway connecting Kodungallur and Angamaly. The MP said that the minister promised a proper step on the demand. NHAI has begun land acquisition procedures for the bypass road of NH 544, from Kundannoor to Angamaly, and the processes are in the final stage. "Linking the proposed Kundannoor-Angamaly highway with Angamaly-Kodungallur Road by constructing a six-lane highway towards Kodungallur from Angamaly town will help reduce traffic congestion in Kochi city and its surrounding areas. If the six-lane highway is constructed, it will enable travellers from northern part of Kerala to reach Kochi airport and cargo vehicles to reach Vallarpadam container terminal without any hindrance and in a timely manner. Additionally, the project will contribute to commercial progress of these regions," said Behanan. The MP has demanded the Union minister to include the project, which costs around Rs 2,500 crore, in the Bharatmala project or the national highways development project. During his meeting with Gadkari, Behanan pointed out that NHAI authorities are turning a blind eye to the public demand for construction of flyovers or underpasses at Perambra, Muringoor, Chirangara and Koratti areas on NH 544 stretching from Angamaly to Thrissur. "As national highway authorities are not ready to consider the proposal yet, the stretch of highway is experiencing severe traffic congestion. The minister assured that a permanent solution will be provided for this issue," said the MP.
News18
7 days ago
- Business
- News18
India On Track To Become Third-Largest Economy By 2028: Morgan Stanley
India is expected to more than double its GDP to $10.6 trillion by 2035, and three-five states might approach the $1 trillion GDP mark, says Morgan Stanley. India is on track to become the world's third-largest economy by 2028 and more than double its GDP to $10.6 trillion by 2035, according to the latest report by Morgan Stanley released on Wednesday. The report also highlighted the pivotal role that Indian states will play in steering this economic transformation. It said that by 2035, three to five Indian states — including Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh, and Karnataka — are projected to approach the $1 trillion GDP mark, putting them among the world's top 20 economies in their own right. 'Based on the latest data, the top three states are Maharashtra, Gujarat, and Telangana," the report noted. It further highlighted Chhattisgarh, Uttar Pradesh, and Madhya Pradesh as the states that have shown the most significant improvement in economic rankings over the past five years. Over the next decade, India is expected to contribute 20% to global growth, becoming a major engine for earnings among multinational corporations, the report said. Morgan Stanley economists emphasized the importance of India's 28 states and eight Union Territories in achieving this ambitious growth. 'States not only manage their own finances but also compete for investments by designing policies and easing business conditions. Ultimately, every factory or business is set up in a specific state," the report stated. The report credited the progress to 'competitive federalism," where states operate with significant legislative and political autonomy, enabling them to frame their own industrial policies and compete for investments. The success of this model, it added, will determine India's rise as a global manufacturing hub, its ability to double per capita income within seven years, and whether it can sustain its capital market momentum. Over the last decade, India has significantly increased infrastructure investment. The Centre's capital expenditure has risen from 1.6% of GDP in FY15 to 3.2% in FY25, spurring major improvements in transportation and logistics. Highway networks have expanded by 60%, the number of airports has doubled, and metro systems have grown fourfold. These developments have been driven by major central schemes such as PM Gati Shakti, the National Infrastructure Pipeline, Bharatmala, Sagarmala, and UDAN, which have been executed alongside state-led initiatives. States also lead infrastructure spending in areas like power, water, and urban development. 'The Centre and states must continue to collaborate closely to meet India's economic ambitions," the report concluded. India has already surpassed Japan to become the world's fourth-largest economy according to IMF data, NITI Aayog CEO BVR Subrahmanyam announced in May 2025. According to the IMF, India's GDP is currently $4.187 trillion, overtaking Japan's $4.186 trillion. Meanwhile, a recent report by JP Morgan said India has emerged as a relatively safe haven among emerging markets (EMs) amid global trade uncertainties. The report highlighted that India is benefiting from a combination of falling inflation, improved system liquidity, and lower government borrowing, which are expected to support economic growth. The report adds that India is expected to post the highest GDP growth among countries in JP Morgan's global universe in 2025. Growth is also being supported by timely demand stimulus and measures that have strengthened urban household balance sheets. In addition, a recovery in the rural economy, further aided by a favourable monsoon, is adding to the positive outlook. It stated, 'India: Falling inflation, enhanced system liquidity and lower borrowing to boost growth. Timely demand stimulus and support to urban household balance sheet". JP Morgan's emerging markets strategists are constructive on several emerging market countries, including India, Korea, Brazil, Philippines, UAE, Greece, and Poland. Among these, India holds a 19 per cent weight in the MSCI EM Index and has been rated 'Overweight" (OW) by JP Morgan. tags : indian economy view comments Location : New Delhi, India, India First Published: July 23, 2025, 17:55 IST News business » economy India On Track To Become Third-Largest Economy By 2028: Morgan Stanley Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
7 days ago
- Business
- Time of India
National highway construction slowed to 29 km/day in last fiscal year: Gadkari
NH construction and Bharatmala update Advt Greenfield corridors and GatiShakti By , ETInfra The pace of National Highways (NH) construction in India dropped to 29 kilometres per day in the last financial year, Parliament was informed on per a PTI report, Union Road Transport and Highways Minister Nitin Gadkari, in a written reply to the Rajya Sabha, said the construction rate during 2023–24 was 34 kilometres per day. The highest pace of construction was recorded in 2020–21, at 37 kilometres per Ministry of Road Transport and Highways is responsible for the development and maintenance of NHs, including expressways. According to Gadkari, the ministry constructed 10,660 kilometres of NHs in 2024–25, 12,349 kilometres in 2023–24, and 10,331 kilometres in 2022–23.'Projects of 26,425 kilometres have been awarded under Bharatmala Pariyojana, out of which 20,770 kilometres have been constructed so far, including 2,967 kilometres during FY 2024–25,' he minister said NH development projects, including access-controlled High Speed Corridors (HSCs) and expressways, are planned in line with the PM GatiShakti National Master Plan (NMP) said the government is prioritising greenfield access-controlled corridors to improve logistics efficiency. 'Accordingly, 26 greenfield corridors in about 7,500 kilometres have been awarded and, additionally, about 600 kilometres have already been approved,' he this, about 4,800 kilometres have been constructed so far, and 2,636 kilometres are operational. The remaining sections are planned to be operationalised over the next two added that the GatiShakti NMP portal shows economic zones and required infrastructure linkages with the objective of integrating multimodal connectivity projects. It also helps identify missing gaps for movement of people, goods, and services.
Hans India
23-07-2025
- Business
- Hans India
India to be 3rd-largest economy by 2028, to reach $10.6 trillion by 2035: Morgan Stanley
A Morgan Stanley report on Wednesday said it expects India's economy to be the third-largest globally by 2028 and more than double in size to $10.6 trillion by 2035. Embedded in this forecast is the likelihood that three to five states (Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh and Karnataka) will have an economy of nearly $1 trillion each, ranking in the top 20 global economies between 2030 and 2035, the report projected. "Based on the latest data, the top three states are Maharashtra, Gujarat and Telangana. The states showing significant improvement in ranks over the past five years are Chhattisgarh, Uttar Pradesh and Madhya Pradesh,' the report noted. India will drive a fifth of global growth in the coming decade and become essential to earnings growth for many multinational companies. 'To secure this outcome, among other things, the role of India's 28 states and eight Union Territories is critical. States not only play a pivotal role in fiscal management but also compete for investments by creating suitable policies and incentives, easing business conditions (ultimately, a business or factory is set up in a particular state),' said economists from the global financial institution. They have independent political cycles with varying mandates that can affect growth positively or negatively and are empowered by law to control factors of production. 'The success of India's competitive federalism will help decide whether she becomes a factory to the world, doubling her per capita income in the coming seven years – and whether the stock market continues its strong performance,' the report emphasised. States are economically important as India becomes a $10.6 trillion economy by 2035, wielding considerable political and legislative power. Their policy frameworks are capable of influencing India's rise as a global manufacturing hub. In the past decade, there has been a concerted push for development of physical infrastructure – the Central government doubled its capex to 3.2 per cent of GDP in FY2025 from 1.6 per cent of GDP in FY2015. This has led to significant infrastructure growth across states. 'Highways rose 60 per cent, airports doubled, and metro network quadrupled. Infrastructure programmes spearheaded by the Central government -- such as PM Gati Shakti, the National Infrastructure Pipeline, Bharatmala, Sagar Mala, and UDAN -- have been promulgated alongside state-specific initiatives,' said the report. States collaborate with the Centre on these projects and play a crucial role in planning and implementation. Further, state governments are also responsible for investments in areas related to power, water, and urban development, it mentioned.
Time of India
21-07-2025
- Automotive
- Time of India
Move over Bharatmala, here comes Viksit Bharat Gati Shakti Maha marg, ETInfra
Advt By & , ETInfra After the Bharatmala Pariyojana road and highway development programme, the next phase of the country's road development will be centered around high-speed corridors and expressways, which will be christened ' Viksit Bharat Gati Shakti Mahamarg ' in keeping with the 'viksit' flavour of all government flagship schemes as the country marches towards a developed nation.'We undertook our first push towards highway development with the Golden Quadrilateral, the vision that was given out in the late 1990s and the second spurt has happened in the post 2014 era,' said V. Umashankar, Secretary, Ministry of Road Transport and Highways , in his address at ET Infra Roads and Highways Secretary highlighted that the country will now transition from highway development to more of high-speed corridors, expressway development with an aim to bring down the logistics cost.'We are looking at the same vision of a Golden Quadrilateral being translated into a high-speed corridor and the expressway corridor of Golden Quadrilateral. So, we are calling it the Viksit Bharat Gati Shakti Mahamarg. We still haven't got at the stage of approval for it, but our planning has been centered around that,' he added, outlining that the highway construction requirement is expected to reach saturation levels in 15-20 an interview to ET Infra earlier, Minister of State for Road Transport and Highways Harsh Malhotra said the next phase of road development by the central government will be focused on developing 40,000 km of high-speed corridors which will enable vehicle speed of up to 120 km/hr.'The Ministry of Road Transport and Highways' vision for 2047 envisages interstate connectivity and economic corridors which connect states and industrial corridors. Highway speed along with economic growth is the vision of the government,' Malhotra had Golden Quadrilateral project focused on developing a network of national highways connecting Delhi, Kolkata, Mumbai and Chennai, while the ongoing Bharatmala programme is aimed at providing National Highways linkage to 550 districts.
