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Saturday, 01 February, 2020, 18 : 14 PM [IST]

Big focus on Infrastructure investments in Union Budget 2020-21

Finance Minister Tejas Trains to connect Tourism destinations
The Union Budget presented in Parliament by Finance Minister, Nirmala Sitharaman today focuses on building a vibrant and dynamic economy under three basic premises of aspirational India, economic development for all and Building a caring society. 

The Budget, as expected has numerous proposals to boost investments in the infrastructure side, to revive the sagging morale of the Indian economy.

 While reiterating the commitment to take forward the National Infrastructure Pipeline announced earlier with renewed vigour with an investment of INR 103 lakh cr, the Finance Minister also proposed various other schemes to promote PPP investments in the Road, Rail, Aviation and Shipping infrastructure in the country.

These new projects will include housing, safe drinking water, access to clean and affordable energy, healthcare for all, world-class educational institutes, modern railway stations, airports, bus terminals, metro and railway transportation, logistics and warehousing, irrigation projects, etc. 

The Budget proposes a New Logistics Policy for India, accelerated development of Highways which include development of 2500 Km access control highways, 9000 Km of economic corridors, 2000 Km of coastal and land port roads and 2000 Km of strategic highways. 

While Delhi-Mumbai Expressway and two other packages would be completed by 2023, Chennai-Bengaluru Expressway would also be started.

 The National Infrastructure Pipeline envisions improving the ease of living for each individual citizen in the country. It’s also will bring in generic and sectoral reforms in development, operation and maintenance of these infrastructure projects. 

The Finance Minister proposed Four station re-development projects and operation of 150 passenger trains through PPP mode. The process of inviting private participation is underway, she said. 

More Tejas type trains will connect iconic tourist destinations. 

High speed train between Mumbai to Ahmedabad would be actively pursued. 148 km long Bengaluru Suburban transport project at a cost of INR 18600 crore, would have fares on metro model. Central Government would provide 20% of equity and facilitate external assistance up to 60% of the project cost. 

The Budget also has proposals to modernise sea ports in the country and make them more efficient. Technology will be used to improve performance. A governance framework keeping with global benchmarks needs to be put in place. 'This government would consider corporatizing at least one major port and subsequently its listing on the stock exchanges,' the Minister said, presenting the Union Budget. 

Inland Waterways received a boost in the last five years. The Jal Vikas Marg on National Waterway-1 will be completed. Further, the 890 Km Dhubri-Sadiya connectivity will be done by 2022. Developing waterways has its impact on the eco-system on both the banks of the river. 

Air traffic has been growing rapidly in the country as compared to global average. 100 more airports would be developed by 2024 to support Udaan scheme. It is expected that the air fleet number shall go up from the present 600 to 1200 during this time. 

The Finance Minister proposed INR 1.70 lakh crore for transport Infrastructure in 2020-21.
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