Source : The Economic Times Date : 07.07.2009
Budget 2009-10 lays major emphasis on infrastructure | |||||||
NEW DELHI: The budget has laid major emphasis on infrastructure development. The government proposes to ensure that IIFCL is given greater
flexibility to aggressively fulfil its mandate. ( Watch ) To ensure that infrastructure projects do not face financing difficulties arising from the current downturn, the Government has decided that IIFCL will refinance 60 per cent of commercial bank loans for PPP projects in critical sectors over the next fifteen to eighteen months. The IIFCL and Banks are now in a position to support projects involving a total investment of Rs.100 thousand crore in infrastructure. Combined with the steps we are taking to increase public investment in infrastructure, this will provide a big boost to such investment. Highway and Railways The allocation during the current year to National Highways Authority of India (NHAI) for the National Highways Development Programme (NHDP) is being stepped up by 23 per cent over the 2008-09 (BE). Allocation for the Railways has been increased from Rs.10,800 crore made in the Interim Budget for 2009-10 to Rs.15,800 crore. ( Watch ) Urban Infrastructure The Jawaharlal Nehru National Urban Renewal Mission (JNNURM) has been an important instrument for refocusing the attention of the State governments on the importance of urban infrastructure. In recognition of the role of JNNURM, the allocation for this scheme is being stepped up by 87 per cent to Rs.12,887 crore in the current budget. To improve the lot of the urban poor, allocation has been enhanced for housing and provision of basic amenities to urban poor to Rs.3,973 crore in the current year’s budget. This includes the provision for Rajiv Awas Yojana (RAY), a new scheme announced in the address of the President of India. This scheme, the parameters of which are being worked out, is intended to make the country slum free in the five year period. | |||||||
