‘Infrastructure development’ — a key plank of Budget 2014-15
With the Budget 2014-15, Finance Minister Arun Jaitley has pressed the acceleration pedal for the ‘infrastructure development’ in the country.
Against the backdrop of the fact that slow approvals, disputes and scandals have dealt a severe blow to infrastructure development in the past, the NDA government has announced new initiatives for developing smart cities, airports and highways. In addition, big energy announcements have also been made by the government, which has also promised to decontrol diesel in a period of one year.
Stating that the presentation of Budget 2014-15 marks an extremely “challenging” task for him, Jaitley said that the government is fully aware of the need to “revive growth,” especially in manufacturing and infrastructure, so that adequate resources can be raised for meeting the country’s developmental needs.
In an evident attempt to put infrastructure on the growth path, Jaitley has committed that 8,500 km of highways will be constructed in the current fiscal year; and also promised that expressways will be constructed close to industrial corridors and new airports.
Describing the Budget as “good for infrastructure,” Sanjay Sethi – Chief of infrastructure at Kotak Investment Banking – said that the Budget “touches on all aspects that investors wanted to hear across sectors like coal, power, roads, airports and ports.”
Source- The Economic Times
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