Finance Minister Arun Jaitley, while presenting his maiden full-year Union Budget for 2015-16, went for growth and relaxed his quest to bring down the fiscal deficit.
The Budget contained proposals aimed at expanding the infrastructure platform. Here are a few highlights:
- ₹70,000 crore in investment lined up for the upcoming fiscal
- Plans afoot to set up National Investment Infrastructure Fund.
- The upcoming year will see the introduction of tax-free bonds to help fund rail, road and irrigation projects.
- Public private partnership (PPP) model being revitalised to allow for private sector funds to flood the sector, which cannot otherwise grow at a better pace.
- Five 'ultra mega' power projects encompassing 4 GW each to be set up.
- The Kudankulam second unit nuclear power generator will be commissioned soon. It holds promise of 1GW power generation.
- Even as 1 lakh km of roads are planned for, additional 1 lakh roads need to be built.
- Public sector ports, including minor ones, could get corporatised under the Companies Act to improve their functioning capabilities and fund-raising abilities to expand capacity.