The total length of highways and railways in the country has registered a steady increase. A new report by Bank of America Securities India reveals that India is on its journey to surpass all records of developing rail lines and highways. The report claims that by the end of the decade in the year 2025, the county will have built more highways and rail lines than were cumulatively built between 1950 and 2015. As a result, it is being calculated that over 1.2 lakh km will be constructed in India. Railway lines and 1.8 lakh km of highways by 2025.
Between 1950 and 2015, the nation built only 4,000 km of national highways, taking the total length to 77,000 km in 2015. However, the length of the highway is likely to cross 1.8 lakh km by 2025 – more than double the current length – in ten years.
When it comes to the rail network, the country had only 10,000 km of rail lines in 1950, which increased to 63,000 km in 2015. But it is expected to touch 1.2 lakh km in 2025, the report said.
The port capacity which was only 777 MTPA in 1995 has increased to 1,911 MTPA in 2015 and will more than double to 3,000 MTPA by 2025.
The country has been rapidly increasing its transport and infrastructure capacity in sectors such as highways and railways since 2015.
Basic amenities such as sanitation access have touched 89 per cent of the population in 2021, up from 43 per cent in 2015; LPG coverage reached 100 percent in 2021 from 56 percent in 2015; 96 percent of households now have access to electricity, up from 56 percent in 2000; Tap water coverage now stands at 52 per cent from 13 per cent in 2015 and is expected to reach 100 per cent coverage by 2024; Piped gas connections stand at 10 million now from 2.5 million in 2015; And affordable rural housing has increased from 10 lakh in 2015 to 25 million now, the report said.
On the de-carbonization front, the report states that the country will spend USD 385 billion in 2015-30 to meet its 2030 de-carbonization targets, which will accelerate materially over time and make it net-zero. It will help in turning the target. 2070.
On the financial front and on the financial digitization front, the report said bank account penetration has jumped from 35 per cent in 2011 to 80 per cent now.
“We see the 2015 Paris Agreement as a turning point in our efforts towards de-carbonisation. Indeed, we are leading the International Solar Alliance to lead de-carbonization efforts globally in execution. The pace of – the fastest transition globally from Euro IV as per VI norms and on track to exceed its Paris Agreement target for 2030; and pollution norms for ACs and energy efficiency norms for ACs globally Most likely to be stringent,” the report said.
Rapid de-carbonization will also reduce diesel consumption as natural gas accounts for 15 per cent of the energy mix and ethanol blending in petrol will reach 5 per cent to 20 per cent by 2030, up from 6 per cent. 2021; Renewable capacity will reach 450 GW by 2030 from 101 GW in 2021.
The report sees all of these as a capital expenditure of USD 385 billion and 106 GW of energy savings and a reduction in CO2 of 1.1 billion tonnes per year by 2030.
With inputs from PTI