BIBHUDATTA PRADHAN
Union Cabinet has approved the setting up of the Integrated Transport and Logistics Authority (ITLA). Briefing the media in New Delhi today after the Union Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw said that this will strengthen research, planning, appraisal, monitoring and impact assessment across the transportation and logistics sector. He said, it will serve as the apex body for integrated transport and logstic planning in the country.
Mr Vaishnaw said, as the country’s GDP is growing at a rate of around 7 to 8 percent, the demand for logistics is also increasing continuously. The Minister said that several highways, railway lines, waterways, airports and new ports are being developed across the country to meet this growing demand. The Integrated Transport and Logistics Authority will prepare a long-term National Transport Master Plan with a planning horizon of ten years.
With the expansion of the transport and logistics networks, ITLA will support long-term integrated planning and post-implementation impact assessment of infrastructure projects. It will complement existing initiatives such as the PM Gati Shakti National Master Plan and the National Logistics Policy. ITLA will undertake a range of responsibilities covering integrated planning, project appraisal, monitoring, data analytics, logistics policy, capacity building and research.
The authority will prepare a comprehensive National Transport Master Plan with a planning horizon of 10 years or more. It will cover roads, railways, ports and shipping, civil aviation, inland waterways, coastal shipping, urban mobility and logistics. It will also monitor transport and infrastructure projects costing above 5 hundred crore rupees, providing a coordinated mechanism for issue resolution.
ITLA will promote research and innovations in transport and logistics sectors. Establishment of the ITLA will play a pivotal role in realising India’s Vision 2047 by strengthening multimodal connectivity, improving infrastructure efficiency, reducing logistics costs, and enhancing India’s global logistics competitiveness.
Union Cabinet has also approved the establishment of ten thousand crore rupees Small and Medium Enterprises Growth fund for equity investments in Small and Medium Enterprises. Mr Vaishnav said, the fund will provide long term equity capital to high potential Small and Medium Enterprises with demonstrated business viability and ability to scale. The Minister said that the majority of funds allocation will go towards manufacturing focused Small and Medium Enterprises. It will also support enterprises across services, technology, innovation driven sectors and strategic value chain.