Home » India

Arun Jaitley proposes Rs 700 crore budget for power and water reforms in Delhi

Thursday, 10 July 2014 - 5:24pm IST | Place: New Delhi | Agency: ANI

Finance Minister Arun Jaitley on Thursday proposed a budget of Rs.200 crore for power reforms and Rs.500 crore for water reforms to make Delhi a truly world class city.

Making his maiden Budget Speech in Lok Sabha today, the Finance Minister announced that Rs. 50 crore is being provided to solve the long term water supply issues to the capital region. For that construction of long pending Renuka Dam would be taken up on priority, the Minister added.

Ratul Puri, Chairman, Hindustan Powerprojects, said: "The government's decision to end the impasse on coal supplies to power plants and ensure availability of the fuel to all projects that are commissioned before March 2015, is a welcome move.""Power reforms, including Rs.200 crore fund allocation in addition to extension of 10-year tax holiday and encouragement to banks for giving long-term funds and loans to the infrastructure sector is bound to give a boost to the ailing sector.

The allocation of Rs.500 crore for Deen Dayal Upadhyay rural electrification programme clearly indicates the government's inclination towards strengthening infrastructure development which shines brightly with their claim of supplying 24*7 power supply to the nation," he added.

"With a strong focus on the power sector, the directive to take up ultra-modern power projects with Rs.500 crore, is also positive in this regard. Renewable sector, a neglected sector in the past has successfully gained importance this time with initiatives of setting up ultra-modern solar power plants which will be key solutions to meet India's energy needs and achieving an aggressive goal of 100 GW in 10 years from solar sector," Puri said.

For Andaman and Nicobar Island, Jaitley announced that Rs. 150 crore are being provided to tide over communication related problems of the Island. Rs. 188 crore has been set aside for Puducherry for meeting commitments for Disaster preparedness, he added.

Announcing proposals for Kashmiri people, the Finance Minister highlighted in his budget speech that Rs 500 crore will be provided to support Kashmiri migrants for rebuilding their lives.

Also in the current financial year, an initial outlay of Rs 100 crore has been provided to set-up a National Centre for Himalayan Studies in Uttarakhand to increase the capacity in the country for Himalayan Studies, the Finance Minister announced.

Jaitley also announced during his maiden Budget Speech that it is proposed to set up the National Academy for Customs and Excise at Hindupur in Andhra Pradesh. 


Jump to comments