The Union Government announces the Economic Survey 2024-25. They key highlights of the survey are as follows:
In the roads and bridges sector, around 6,215 km of roads was constructed in 2023-24, during the April-December period. During the same period in 2024-25, around 5,853 km has been constructed, a decline of around 5.82 per cent. In Q1FY25, the pace of capital expenditure was affected largely due to the imposition of the Model Code of Conduct and extended monsoons. Upto November 2024, around 54 per cent of the budgeted capex has been utilised. Overall, the road sector is the frontrunner with respect to asset monetisation, with the cumulative value crossing the Rs 1 trillion mark.
The shift from project-based national highway development to corridor-based approach has helped increase the highway length from 91,287 km in 2014 to 0.14 million km in 2024. Under the Bharatmala Pariyojana programme, approximately 26,425 km has been awarded and 18,926 km has been constructed. Of the total 825 km road planned under the Char Dham Mahamarg Pariyojna, around 620 km has been constructed. The length of high-speed corridors (HSC) has expanded from 93 km in 2014 to 2,474 km. The length of the four-lane and above NHs (excluding HSCs) has grown by approximately 2.5 times, from about 18,300 km in 2014 to 45,900 km in 2024. In terms of rural connectivity, under the Pradhan Mantri Gram Sadak Yojana (PMGSY), 8,34,695 km of road length has been sanctioned, 7,70,983 km of road length has been completed, and around 99.6 per cent of the targeted habitations have provided connectivity. Moreover, PMGSY Phase-IV has been approved to provide all-weather connectivity to 25,000 rural habitations. Under the Smart Cities Mission (SCM), around 1,700 km of smart roads have been developed. Additionally, intelligent traffic management system (ITMS) has been developed in 35 cities.
Various initiatives have been undertaken to improve the road logistics efficiency. Advanced traffic management system (ATMS) has been installed across 4,000 km of NH. Up until December 2024, six multi-modal logistics parks (MMLPs) in Chennai, Indore, Nagpur, Jalna, Jogighopa and Bangalore have been awarded. With respect to ropeway projects, around 15 projects are underway. Projects in Varanasi, Dhosi Hill, Bijli Mahadev, and Ujjain have been awarded, and ten more are currently under bidding. The Vehicle Scrapping Policy, with 82 registered vehicle scrapping facilities (RVSFs) operational across 19 states and union territories, has scrapped about 0.16 million vehicles. Additionally, around 65 more RVSFs are under construction, which will add one more state.
Further, a proactive policy for NH maintenance has been adopted. Contractual maintenance for the entire NH network is now managed through performance-based maintenance contracts (PBMC) of 5-7 years or short-term maintenance contracts (STMC) of 1-2 years. Additionally, long-term maintenance contracts of around 20 years are undertaken through the toll-operate-transfer (TOT) mode and infrastructure investment trust (InvITs).
In order to make the roads more customer centric, the government has moved from traditional ways of tolling to digitised tolling by adopting electronic toll collection through FASTag. This has reduced the average waiting time at toll plazas from 734 seconds to 47 seconds. Further, the centre has targeted the rollout of barrier-free tolling on all four lane, NHs and high-speed corridors by 2028-29.
The government is also planning to establish over 1,000 wayside amenities in the next five years to provide world-class facilities and amenities along the NHs at every 40-60 km on both sides.
In the railways sector, the Indian Railways (IR) achieved a growth of eight per cent in terms of originating passenger traffic and 5.2 per cent in terms of freight traffic, during April-December 2024, over the corresponding period of the previous year. As of November 2024, IR has achieved capital expenditure of 67 per cent of the total budget expenditure planned for 2024-25. During April-November 2024, IR commissioned a length of 2,031 km in comparison to the 2,282 km commissioned during the same period in the previous year.
A total of 136 Vande Bharat trains were launched till October 2024. During 2023-24 (till October 2024), a cumulative 34 Vande Bharat trains were introduced. The coach production registered for Vande Bharat trains during the same period was 228 units. Till October 31, 2024, a total of 91 Gati Shakti Multi Modal Cargo terminals (GCT) have been commissioned along with location approval has been given for 234 locations. Focusing on safety, a total of 227 stations have been facilitated with electronic interlocking (EI) systems during 2024-25, increasing the coverage to a total of 3,576 stations. In 2024-25, 25 out of the 62 pending stations have been upgraded to EI systems, with nine zonal railways now free from mechanical signalling. Also, the first direct drive interlocking system was commissioned in November 2024 at Tajpur station. Further, Automatic block signalling (ABS) has been deployed on 720 route km (rkm) of high-density network routes during 2024-25, increasing the coverage to a total of 4,906 km. The indigenously built automatic train protection (ATP) system Kavach has seen investments to the tune of Rs 15.47 billion, while the specification version 4.0 for this technology was approved on July 16, 2024. IR also implemented Wi fi facility at total 6,112 stations.
IR is targetting 30 GW of renewable energy by 2029-30, with 375 MW of solar and 103 MW of wind commissioned as of October 2024. Further, IR has identified 434 projects, valued at Rs 11 trillion, under three railway corridors mapped on the PM GatiShakti portal. Under the public-private partnership model, 17 projects have been completed (Rs 164.34 billion) and eight are under progress (Rs 166.14 billion). Further, under the major projects, Mumbai-Ahmedabad high-speed rail project has achieved 47.17 per cent physical progress with an expenditure of Rs 674.86 billion (as of October 2024). Also, as of November 2024, 2,741 km (96.4 per cent) of the planned 2,843 km dedicated freight corridor network has been commissioned. Further, works have been initiated on 1,197 stations, out of the total 1,337 stations identified for redevelopment, under the Amrit Bharat Station Scheme.
In the aviation sector, airport operators and developers including the Airports Authority of India (AAI) have planned for a capital expenditure of more than Rs 910 billion from FY 2020 to FY 2025, of which around 91 per cent has already been achieved as of November 2024. As per the survey, India is the fastest-growing aviation market in the world. The Regional Connectivity Scheme – Ude Desh ka Aam Nagrik (RCS-UDAN) has improved air connectivity with the coming up of new airports and enhanced regional connectivity. As of December 2024, 619 routes connecting 88 airports including 2 water aerodromes and 13 heliports have been operationalised.
Apart from this, airports have witnessed a rise in cargo handling capacity to 8 million metric tonnes as of FY 2024. Further, Indian airlines have placed large orders for aircraft to meet the growth in air traffic. The maintenance, repair, and overhaul (MRO) industry has also gained importance with the government encouraging original equipment manufacturers to establish facilities in the country, and also aligning the sector with global standards through policies. Additionally, positive developments have been seen at the Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC), with 32 aircraft leasing entities (including provisional) having registered, and leasing 105 aviation assets including 53 aircraft and 52 engines.
In the ports and shipping sector, capacity at ports improved significantly during April-November period of FY 2024-25, leading to improvements in operational efficiency and reduction in average container turnaround time. The average container turnaround time at major ports has been reduced from 48.1 hours in FY 2023-24 to 30.4 hours during April-November period of FY 2024-25. Currently, 56 public-private partnership (PPP) projects valued at Rs 414.80 billion are operational, increasing port capacity by about 550 million tonnes per annum (mtpa).
Under Sagarmala Programme, 262 projects have been completed, while 217 projects are under implementation and 360 projects are under development (as of November 2024). Amongst five pillars of Sagarmala Programme, port modernisation and port-led industrialisation have the highest project completion rates. This is followed by advancements in port connectivity, coastal community development, coastal shipping, and inland water transport.
In the urban infrastructure sector, 1,010 km of metro rail and regional rapid transit system (RRTS) lines are currently operational in 23 cities with an additional 980 km of network under construction. As of January 5, 2025, 62.7 km of network has been operationalised in FY 2024-25, and the daily ridership has reached 10.2 million. These systems have led to considerable savings in emissions, time, vehicle operating costs, accidents and infrastructure maintenance.
Under the Jal Jeevan Mission, more than 153 million (79.1 per cent) out of approximately 193.4 million rural households have been provided with tap water connections as of November 26, 2024. Eight states, namely, Arunachal Pradesh, Goa, Haryana, Himachal Pradesh, Gujarat, Punjab, Telangana and Mizoram, and three union territories, namely, Andaman & Nicobar Islands, Dadra Nagar Haveli & Daman Diu and Puducherry have achieved 100 per cent coverage. Besides, 1,570 water quality laboratories, out of 2,160 have been accredited by the National Accreditation Board for Testing and Calibration Laboratories to ensure safe drinking water.
Under Swachh Bharat Mission-Grameen, 1,92,000 villages were declared ODF Plus under the model category, taking the total number of ODF Plus villages to 3,64,000 during April to November 2024. Under Swachh Bharat Mission-Urban, 63,70,000 individual household latrines and 6,40,000 community and public toilets (seats) have been constructed, as of December 2024. Moreover, 4,576 ULBs have been ODF certified, 3,913 ULBs ODF+ certified, 1,429 ULBs ODF++ certified and 64 ULBs Water+ certified.
Under AMRUT, tap water coverage has increased to 70 per cent and sewerage coverage has risen to 62 per cent. The mission has created or augmented water treatment capacity of 4,649 million litres per day (mld). Further, 785 stormwater drainage projects have been completed, eliminating 3,631 waterlogging points and constructing 1,380 kilometres of drains to mitigate the effects of urban flooding as of December 2024. Work is currently underway to address an additional 285 waterlogging points. Besides, under AMRUT 2.0, 3,078 water body rejuvenation projects have been approved with the planned rejuvenation of 475 square kilometres area with 46.5 million mld capacity, of which nine water rejuvenation projects have been completed. These projects are focused on sewer diversion and treatment before discharge into water bodies, sustainability and emphasis on nature-based solutions. AMRUT 2.0 also focuses on the reuse of water and greywater management. As of December 2024, 1,437 mld capacity has been developed for recycling/reuse.
Under the Smart Cities Mission, 93 per cent of WASH projects have been completed under the programme as on January 13, 2025. Moreover, 17,000 km of water supply network is monitored via SCADA in 31 cities, reducing water loss and leaks.
In the power sector, while transformation capacity additions gained momentum, transmission line construction faced delays due to heavy monsoon conditions. Government initiatives such as the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated Power Development Scheme (IPDS), and Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA) have electrified 18,374 villages and provided electricity to 29 million households, with a total investment of Rs 1.85 trillion. Moreover, the Revamped Distribution Sector Scheme, launched in July 2021 with an outlay of Rs 3 trillion, has approved projects worth Rs 2.8 trillion, enhancing power distribution efficiency and reliability. Consequently, urban power supply improved from 22.1 hours in FY 2013-14 to 23.4 hours in FY 2023-24, while rural supply increased from 12.5 hours to 21.9 hours. The energy demand-supply gap has significantly reduced from 4.2 per cent in FY 2013-14 to 0.1 per cent by December 2024.
Moreover, the green energy corridors (GEC) continue to strengthen renewable integration, with GEC-I achieving 9,136 circuit kilometres of transmission lines and 21,413 MVA substations, while GEC-II expands to seven more states.
To enhance the energy infrastructure the survey mentions several measures that have been undertaken to simplify rooftop solar installations, support EV charging, and expedite new electricity connections. Approvals for rooftop solar systems up to 10 kW no longer require feasibility studies, and timelines for larger systems and commissioning have been significantly reduced. Further, consumers can now obtain separate electricity connections for charging electric vehicles. Timelines for obtaining new electricity connections have been reduced to three days in metropolitan areas, seven days in municipal areas, and fifteen days in rural areas. Residents of group housing societies and residential colonies can choose either individual or single-point electricity connections. This has promoted transparency and flexibility. If a consumer disputes their meter reading, the licensee must install an additional meter within five days to verify consumption over three months, ensuring billing accuracy.
In the renewable energy sector, the survey stated that as of January 9, 2025, rooftop solar systems for more than 700,000 households have already been installed under the PM Surya Ghar: Muft Bijli Yojana. The scheme targets rooftop solar installations in 10 million households, with an expected capacity addition of 40,000-45,000 MW by 2027. In the decentralised solar space, 397 MW has been installed as of December 2024, along with the solarisation of 728,000 agricultural pumps under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. Further, the Ministry of New and Renewable Energy has expanded PM JANMAN to provide offgrid solar systems to 100,000 unelectrified households and solar lighting for 1,500 multi-purpose centres in tribal areas.
The Solar Parks and Ultra-Mega Solar Power Projects Scheme, targeting 40,000 MW, has sanctioned 55 solar parks with a combined capacity of 39,900 MW across 13 states, with 12,200 MW already commissioned as of December 31, 2024.
Offshore wind segment has also been given a fillip with a viability gap funding (VGF) scheme, allocating Rs 74.53 billion for 1,000 MW of wind projects off Gujarat and Tamil Nadu and port upgrades for logistics.
The survey also mentions the National Bioenergy Programme which supports waste-to-energy, biomass, and biogas projects, with biomass power and cogeneration projects reaching 9.8 GW (grid-connected) and 0.92 GW (offgrid) as of December 2024. Waste-to-energy projects stand at 249.74 MW (grid-connected) and 370.19 MW (offgrid), while 5.1 million small biogas plants and 361 medium-sized plants contribute a total capacity of 11.5 MW.
In the telecom sector, according to the survey, there has been a paradigm shift in India’s telecom technology space that underscores an ongoing effective transition from a technology importer to a technology developer and exporter. The survey mentioned that India’s achievement of the fastest 5G rollout globally highlighted its technological prowess in the telecom sector. India’s telecom sector is expanding with the smartphone boom, surging data consumption, and the advent of technologies like 5G.
It noted that the rollout of 5G services, along with the introduction of new policies aimed at enhancing telecommunications infrastructure and user experience, has played a crucial role in digital connectivity.
As per the survey, by October 31, 2024, 5G services were launched in all states and union territories and currently. 5G services are available in 779 out of 783 districts. Over 0.46 million 5G base transceiver stations (BTSs) have been installed nationwide.
It mentioned that telecom infrastructure is being strengthened through the Bharat Net Project, which extends broadband to villages and enhances mobile coverage in the Northeast, border areas, and islands. Meanwhile, submarine optical fibre cable (OFC) connectivity has been completed in Andaman and Nicobar Islands with 205 Gbps bandwidth utilised and satellite bandwidth increased from 2 Gbps to 4 Gbps. Similarly, the submarine OFC project (1,869 km) was commissioned in Lakshadweep Islands in January 2024, enabling 5G and fibre-to-the-home (FTTH) services.
Further, it highlighted that mobile services are also available now in uncovered areas under the Border Villages Scheme, where 319 villages have been covered with 4G (295 towers), 297 towers upgraded to 4G, and 1,106 towers commissioned covering 1,162 locations under Phase I and II, respectively, in left-wing extremism (LWE) areas.
Similarly, it added that under the comprehensive telecom development plan for North-Eastern region, mobile services are being provided with 1,358 sites in uncovered villages and highways. For instance, 671 towers were installed to cover 1,178 villages in Arunachal Pradesh and Assam, 433 towers in Meghalaya to cover 622 villages and three highways.