India-World Bank sign 120 million USD agreement to implement Meghalaya Integrated Transport Project
On November 19, 2020, India and World Bank signed 120 million USD to modernise transport sector in the state of Meghalaya. The project aims to improve 300 km of strategic road segment through climate resilient and nature-based solutions.
About Meghalaya Integrated Transport Project
The project will help Meghalaya to emerge as the major connecting hub of trade with border countries such as Nepal, Bhutan and Bangladesh. The project will cater small scale industries, agriculture areas, tourism, health and education centres. Currently, around 5,362 habitations in Meghalaya lack transport connectivity. It will increase access to health facilities. More than 500,00 inhabitants of the state will benefit in the state. The project is expected to generate direct employment of 8 million person days.
The project will act as a boost to “Restart Meghalaya Mission”.
Restart Meghalaya Mission
The Restart Meghalaya Mission was launched in August 2020 on the occasion of the 74th independence day. Around six projects were announced under the mission. A total investment of Rs 8,753 crores is to be used for infrastructure projects. The mission will construct 13 major roads at a cost of Rs 850 crores. Under the mission, 400 agricultural entrepreneurs are to be provided with power tillers at subsidised rates. The mission will also develop tourism.
North East road Development Projects
The Government of India has been keen in improving connectivity in the North East Region to increase its trade. In 2018, Rs 1.9 lakh crores were sanctioned to build 14,000 km of roads in the North East region. The speed of development activities in the North East Region was increased by GoI after the stand off with China in Siliguri Corridor. It is a very narrow region between Bhutan and Bangladesh in the Indian soil. If this region is cut off, then the land connectivity with North East will get cut off. India has opened its inland waterways as well to increase the connectivity with the North East.
Category: Economy & Banking Current Affairs