As part of the scheme, the government will provide financial assistance for the construction of 62,500 kms road
Infrastructure is the backbone of any nation’s development and quality of life, Goyal said while presenting the budget
A healthy share of capital outlay for roads sector in Budget 2017 bodes well for construction companies, according to Nagarjuna Construction Company‘s (NCC) management.
Budget 2017 provides for an outlay of Rs 64,000 crore for roads and highways, which will be allotted to National Highways Authority of India (NHAI). Jaitley has also announced Rs 27,000 crore would be specially earmarked for its rural roads programme, Pradhan Mantri Gram Sadak Yojana.
The scheme was envisaged during the previous NDA government led by Atal Bihari Vajpayee but the progress slowed down as the UPA government reduced its funding, Minister of State for Rural Development Ram Kirpal Yadav said, adding that "we have increased the fund amount for the scheme."
BJP on June 13 alleged a scam worth Rs 1000 crores in centrally sponsored schemes including PMGSY in Uttarakhand and demanded a CBI probe into the irregularities
With an aim to bring down the price of essential commodities in the north-east, the government today said capitals of all the states in the region will be connected by broad gauge rail network by 2020.
The Rs 3,02,885 crore allocated towards the MSME sector can lead to a direct benefit of Rs 2,00,000 crore to the sector, according to domestic rating agency Smera Ratings.
With the government giving an impetus to infrastructure, agriculture and rural in the Budget today, Minister of Road and National Highways Nitin Gadkari sees agriculture growth increasing by 3-4 percent.
The government will make the necessary amendments to Motor Vehicle Act as to open up road transport for passenger segment.
The government may be looking to significantly increase allocation to marque programmes such as the Pradhan Mantri Krishi Sinchai Yojana, Rashtriya Krishi Vikas Yojana, Pradhan Mantri Gram Sadak Yojana, and the one to provide soil health cards to the country's 140 million farmer families over three years
The loan would help the TMC government complete projects in around 3,500 villages, quite a few of which lie in the tribal Jangalmahal districts of Purulia, Bankura and West Midnapore, he added. The minister, however, refused to comment on whether the loan appeal to World Bank had been lined up keeping in mind next year's Assembly elections.
The Budget has allocated a 17 percent hike in allocation to education over FY13.