News RoundUp by Descon
Descon Infrastructure Pvt. Ltd.
Urban Infrastructure Development Firm
July 27, 2024
Infrastructure gets Highest Ever ?11.11 lakh cr Allocation in Budget
Finance Minister Nirmala Sitharaman unveiled a transformative Union Budget, emphasizing substantial investments in infrastructure with a strong multiplier effect on the economy. She committed to continued fiscal support for infrastructure over the next five years, balancing priorities and fiscal consolidation. This year, ?11,11,111 crore has been allocated for capital expenditure, representing 3.4% of GDP.
The budget introduced substantial financial packages for Andhra Pradesh and major projects for Bihar. Andhra Pradesh will receive ?15,000 crore this fiscal year, with further funds to follow, to meet commitments from the Andhra Pradesh Reorganisation Act. Phase IV of the Pradhan Mantri Gram Sadak Yojana (PMGSY) aims to provide all-weather connectivity to 25,000 rural habitations. Bihar will see the development of an industrial node at Gaya on the Amritsar-Kolkata industrial corridor and key infrastructure projects totaling ?26,000 crore, including the Patna-Purnea expressway and a new bridge over the Ganga in Buxar. The budget also allocates ?11,500 crore for irrigation and flood mitigation in Bihar and financial assistance for similar projects in Assam, Himachal Pradesh, Uttarakhand, and Sikkim.
Revolutionizing Travel: AI-Powered Traffic System Transforms Mumbai-Pune Expressway!
The Pune Expressway will introduce an AI-powered Intelligent Traffic Management System (ITMS). As the first of its kind in Maharashtra, this cutting-edge system uses artificial intelligence and data analytics to streamline vehicle flow and enhance road safety.
Key features of the ITMS include:
The Regional Transport Office (RTO) will monitor the system from a control room in Lonavala, ensuring continuous oversight and management. This advanced technology marks a significant step towards smarter and safer roadways.
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Government Pilots Satellite-Based Toll Collection on National Highways
The government has launched a pilot study on satellite-based toll collection on two national highways, aiming to replace traditional toll booths. This system uses satellite data to automatically track vehicles and charge tolls, reducing congestion and enhancing travel efficiency. Conducted on the Delhi-Mumbai and Chennai-Bengaluru highways, this initiative marks a significant step towards modernizing India's toll collection infrastructure.
Article of the Week
Traffic Road Marking Coatings Market: Size, Share, and Forecast (2024-2032)
The global traffic road marking coatings market size was valued at USD 6.89 billion in 2023. The market is projected to grow from USD 7.18 billion in 2024 to USD 9.78 billion by 2032, exhibiting a CAGR of 3.9% during the forecast period. Asia Pacific dominated the traffic road marking coatings market with a market share of 39.91% in 2023.
The growth is fueled by expanding road networks and the need for high-visibility markings to ensure safer roads. Asia Pacific is expected to lead the market, thanks to rapid infrastructure development, while North America and Europe also play significant roles due to stringent safety regulations. Despite initial disruptions caused by the COVID-19 pandemic, the market is rebounding strongly with renewed infrastructure projects and a focus on advanced road marking technologies. Key players in the industry are investing in product innovation and strategic partnerships to meet the evolving demands.