Transport Sector: An engine of economic growth of India

In the world, Indian economy is developing very speedy rate. It can be reflected from various areas i.e. primary, secondary and tertiary sectors has been shown us tremendous growth. So as Indian economy is reached at 5th rank across the world. For this achievement, Government of India has invested huge worth for building world-class infrastructure in India. Infrastructure is crucial to develop a physical system of business, region or nation; that are useful to evolved the process of public as well as private goods. The physical system may be in form of transport, communication, water, sewage, school, hospitals so on. Our target of Indian economy $5 trillion by 2025.we shall have focused on supply side as well as Make in India programme then economy will be able to fulfill rising aspiration of People. There are many things that attracted more infrastructure i.e. demographic structure, urbanization, growing working age population, contribution to employment, service sector-based economy and climate changes. On the basis of SDGs Government of India has to focused to improving the living standards through the infrastructure investment and it is must for redevelopment of slum neighborhood’s, urban roads, water supply coverage and quality, wastewater treatment facilities, and urban mobility through public transport.Apart of these, , NITI Aayog has designed the ‘Ease of Living Index’ comprising of 37 measurable indicators, which take into consideration the UN 2030 SDGs. The indicators in the Ease of Living Index are categorized into – basic needs, welfare and human betterment. In order to meet growth aspirations and provide improved standard of living, the infrastructure investments contribution is mandatory. Infrastructure investment in India during fiscals 2008 to 2017 was estimated at Rs 60 lakh crore ($1.1 trillion at average exchange rates of respective years). As per report of the Task force of National infrastructure pipeline (volume-I p.26), India’s infrastructure investment for fiscals 2018 and 2019 are Rs 10.2 lakh crore and Rs 10 lakh crore respectively. During the above period, infrastructure investment was predominantly made by the public sector (i.e. Centre and state governments with a share of70%), while the share of private sector was 30%. Power, roads and bridges, urban, digital infrastructure and railways sub-sectors together constituted 85% of the total infrastructure investment in India during fiscals 2013 to 2019. The Centre and states were the major funding sources for sectors such as power and roads and bridges, with moderate participation from the private sector. Digital sector investments were largely driven by the private sector, while investments in the irrigation sector were predominantly made by the state governments