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Last Updated : Jul 22, 2019 06:23 PM IST | Source: Moneycontrol.com

50 days of Modi 2.0: Infrastructure drive to be in focus

Budget 2019 also aimed at developing blueprint for gas grids, water grids, i-ways and regional airports to improve overall infrastructure.

Pramiti Lonkar @LonkarPramiti
Representative Image
Representative Image

Betting on the infrastructure theme, Minister of Information and Broadcasting Prakash Javadekar said that in the next five years, the government is planning to invest around Rs 100 lakh crore in that sector.

With the Modi government completing 50 days in office, the infrastructure sector's growth has to be on an overdrive.

To fund road and highway projects, the Ministry of Road Transport and Highways signed an MoU with National Infrastructure and Investment Fund (NIIF) earlier this month.

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In an effort to promote sustainable practices, the government rolled out initiatives in the Union Budget 2019 to promote the adoption of electric vehicles and encourage development of charging infrastructure.

The government has allocated Rs. 10,000 crore for the FAME-II scheme to encourage adoption of electric vehicles. Further, custom duty has been reduced on certain parts of electric vehicles to ease setting up of infrastructure.

The government also proposed the initiation of public private partnership in construction of railways infrastructure to unleash faster development and completion of tracks, rolling stock manufacturing and delivery of passenger freight services.

Budget 2019 also aimed at developing blueprint for gas grids, water grids, i-ways and regional airports to improve overall infrastructure.

To improve public infrastructure and affordable housing, the Centre has proposed taking the route of joint development and concession.

The Centre also formulated the Jal Shakti Ministry to streamline all water related issues and bring it under one ministry.

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First Published on Jul 22, 2019 06:18 pm
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