India is expected to witness an accelerated pace of development in the coming couple of years as a report by Bank of America Securities India on Wednesday said the country is on course to build more national highways and rail lines during the decade ending 2025 than it has cumulatively done between 1950 and 2015.
The report says that the total length of national highways is in the country is expected to reach 1.8 lakh kilometres, while that of the railway lines 1.2 lakh kilometres by 2025.
Between 1950 and 2015, the nation built only 4,000 kilometres of national highways, taking the total length to 77,000 kilometres in 2015. However the highway length is on course to cross 1.8 lakh kilometres registering a growth of 133 % by 2025 which is an tremendous growth in ten years time.
When it comes to the rail network, the nation had only 10,000 kilometres of rail lines in 1950, which rose to 63,000 kilometres in 2015. But it is slated to touch 1.2 lakh kilometres in 2025, the report said. Thus, railways will see around a 90 % increase in its length.
The port capacity which was only 777 MTPA (Million Tonnes per Annum) in 1995 rose to 1,911 MTPA in 2015 and is on course to more than double to 3,000 MTPA by 2025, it said.
The country has been rapidly augmenting transportation and basic infrastructure capacity across sectors such as highways and railways since 2015.
Reporting about other bench mark achievements in accessibility to basic infrastructure the report noted-
sanitation access has touched 89% of the population in 2021 from 43 % in 2015
cooking gas coverage reached 100 % in 2021 from 56 % in 2015
96 % households have electricity access now up from 56 % in 2000
tap water coverage is 52 % now from 13 % in 2015 and is likely to be 100 % coverage by 2024
piped gas connections is at 10 million now from 2.5 million in 2015 and
affordable rural housing is at 25 million now up from 1 million in 2015, the report said.
Environment and sustainability
Talking about environment, on the de-carbonisation front, the report said that the country will be spending USD 385 billion over 2015-30 just to meet its 2030 de-carbonisation goals, which will accelerate materially over time and help it transition to the net-zero goal by 2070.
On the financial front, and financial digitisation front, the report said bank account penetration has reached 80 % now from 35 % in 2011.
The report read, “We see the 2015 Paris agreement as an inflection point in our efforts towards de-carbonisation. In fact, we are leading the de-carbonisation efforts globally in spearheading the International Solar Alliance; pace of execution — the fastest transition globally from Euro IV to VI norms and is on track to exceed its Paris agreement targets for 2030; and pollution norms stringency for gensets and energy efficiency norms for ACs are likely to be most stringent globally.”
The rapid de-carbonisation will also lead to a cut in diesel intake as natural gas will constitute 15 % of the energy mix and ethanol blending in petrol will touch 20 % from 5 % now by 2030, up from 6 % in 2021; renewable capacity will reach 450 GW by 2030 from 101 GW in 2021.
The report sees all these leading to a capex of $ 385 billion and 106 GW energy savings and 1.1 billion tonne per annum CO2 reduction by 2030.
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