Finance Minister Nirmala Sitharaman announced the development of three major railway economic corridors under the PM Gati Shakti scheme in her Budget speech on February 1, 2024. The three corridors are:
- Energy, mineral and cement corridor: This will link the coal and mineral-rich regions of eastern and central India with the cement and power plants in the south and west.
- Port connectivity corridor: This will connect the major ports of India with the hinterland and facilitate the movement of goods and passengers.
- High traffic density corridor: This will augment the capacity and speed of the existing high-density routes and reduce congestion and delays.
The FM said that these corridors will improve the logistics efficiency and reduce the cost of transportation for the economy. She added that these projects have been identified under the PM Gati Shakti scheme, which aims to enable multi-modal connectivity and integrated infrastructure development in the country.
