The Union Cabinet has approved the establishment of the Integrated Transport and Logistics Authority (ITLA), which will prepare a long-term National Transport Master Plan and monitor projects costing above 500 crore rupees.
In a significant move, the Union Cabinet, during a meeting in New Delhi, has approved the establishment of the Integrated Transport and Logistics Authority (ITLA). According to Information and Broadcasting Minister Ashwini Vaishnaw, this will serve as the apex body for integrated transport and logistics planning in India. The minister stated that as the country's GDP is growing at around 7-8%, the demand for logistics is also increasing continuously. To meet this growing demand, several highways, railway lines, waterways, airports, and new ports are being developed across the country.
The ITLA will prepare a long-term National Transport Master Plan with a planning horizon of ten years or more. The plan will cover roads, railways, ports and shipping, civil aviation, inland waterways, coastal shipping, urban mobility, and logistics. The authority will also monitor transport and infrastructure projects costing above 500 crore rupees, providing a coordinated mechanism for issue resolution.
In addition to the ITLA's responsibilities in integrated planning, project appraisal, monitoring, data analytics, logistics policy, capacity building, and research, it will also promote research and innovations in the transport and logistics sectors. The establishment of the ITLA is expected to play a pivotal role in realizing India’s Vision 2047 by strengthening multimodal connectivity, improving infrastructure efficiency, reducing logistics costs, and enhancing India’s global logistics competitiveness.
The Union Cabinet has also approved the establishment of a ten thousand crore rupees Small and Medium Enterprises Growth fund for equity investments in Small and Medium Enterprises.
Source:
Akashvani News
