Beginning his maiden budget by saying “Budget is only the beginning of the journey for a sustained growth of 7-8% over the next three years, Finance Minister Arun Jaitley on Thursday gave a major thrust to the infrastructure sector by focusing on highways, roads, airports, metros and smart cities, which form the backbone of the economy.
Announcing a lot of schemes, Jaitley allocated a Rs 37,850 crore investment in the National Highways Authority of India (NHAI), including Rs 3,000 crore for the North-east; 16 new port projects; Rs 7060 crore for the development of 100 smart cities and new airports through Public-Private Partnership (PPP).
Infrastructure sector allocations: Highlights
Rs 37,000 crore for national highway development; Rs 3000 crore for the North-East region.
Rs 7,060 crore for development of 100 smart cities and new airports through PPP.
Rs 14,389 crore to be allotted for development of roads under the 'Pradhanmantri sadak yojna'.
Rs 5,000 crore for scientific warehousing infrastructure.
16 new ports to be developed.
Rs 100 crore to set up agri-infrastructure fund.
Rs 5,000 crore more to the National Bank for Agriculture and Rural Development (Nabard) for rural infrastructure.
Rs 200 crore to be set aside to support the Sardar Patel statue installation in Gujarat.
Rs 200 crore for upgrading indoor and outdoor stadiums in J&K.
Rs 50 crore for setting up a national police memorial.
Conducive tax regime for infrastructure and real estate investment trusts.
Rs 500 crore for ultra modern power projects to be taken up in Rajasthan, Tamil Nadu, Ladakh.
National industrial corridor to be set up with corpus of Rs 100 crore.
Bangalore-Mumbai infrastructure corridor to be completed in time.
National Industrial Corridor with headquarters in Pune will be given Rs 100 crore to oversee industrial corridor.
Infrastructure Investment Trust being set up to finance infrastructure projects.
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