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Union Budget 2016: Building road and rail infrastructure a key focus area

India Blooms News Service | | Feb 29, 2016, at 07:34 pm

New Delhi, Feb 29 (IBNS) Union Finance Minister Arun Jaitley on Monday presented the Union Budget 2016 where a total outlay of Rs. 2,18,000 crore has been proposed as capital expenditure for roads and railways in 2016-17.

Jaitley said that infrastructure and Investment is the Fifth Support Pillar of the Budget Theme ‘Transform India’.

For speeding-up of the process of road construction, an allocation of Rs. 27,000 crore has been purposed for Pradhan Mantri Gram Sadak Yojna (PMGSY) and Rs. 55,000 crore for Road Transport and Highways.

Another Rs.15,000 crore is to be raised by NHAI through Bonds.

An outlay towards capital expenditure of the Railways is proposed at Rs. 1,21,000 crore.

The finance minister announced that nearly 10,000 kilometre of National Highways are expected to be approved in 2016-17.

In addition nearly 50,000 KMs of State Highways will also be taken-up for up-gradation as National Highways.

The total outlay for infrastructure in budgetary estimates 2016-17 stands at Rs. 2,21,246 crore.

He said that the Government will enact necessary amendments in the Motor Vehicles Act and open-up the road transport sector in the passenger segment.

An enabling eco-system will be provided for the states which will have the choice of adopting the new legal framework.

Entrepreneurs will be able to operate buses on various routes, subject to certain efficiency and safety norms. This will benefit the poor and middle class, encourage new investment, promote start up entrepreneurs and create new jobs, according to the budget proposal.

Jaitley said, “We are planning to develop new Greenfield ports both in the eastern and western coasts of the country. The work on the National Waterways is also being expedited Rs 800 crore has been provided for these initiatives”.

In the Civil Aviation sector, un-served and under-served airstrips are to be revived by Airport Authority of India and also in partnership with state governments

#Union Budget 2016 # Arun Jaitley # Budget speech # India economy

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