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Rs fifty lakh crores needed to complete the infra projects in the country

Public investment in excess of Rs fifty lakh crores is needed in the infrastructure sector to increase the growth of GDP and connect the nation with a network of roads, airports, railways, Ports and Inland waterways finance minister Arun Jaitley said while presenting his last full fledged union budget to the Lok Sabha on February one.

 Emphasizing that infrastructure is the growth driver of economy, the Finance Minister announced increase of budgetary allocation on infrastructure projects for 2018-19 to Rs.5.97 lakh crore against estimated expenditure of Rs.4.94 lakh crore in 2017-18.

 The Government has made an all-time high allocation to rail and road sectors and is committed to further enhance public investment. The Prime Minister personally reviews the targets and achievements in infrastructure sectors on a regular basis. Using online monitoring system of PRAGATI alone, projects worth 9.46 lakh crore have been facilitated and fast tracked.

 To further boost tourism, the Budget proposes to develop ten prominent tourist sites into Iconic Tourism destinations by following a holistic approach involving infrastructure and skill development, development of technology, attracting private investment, branding and marketing.

 Under the Bharatmala Pariyojana, about 35000 kms road construction in Phase-I at an estimated cost of Rs.5,35,000 crore has been approved.

 On the railways the finance minister said four thousand kilometers of electrified railway network is slated for commissioning during the current year ending next month. Work on Eastern and Western freight corridors to link Mumbai with Delhi and Ludhiana with Kolkata is in full swing. Over 3600 Kilometers of track renewal is targeted to be completed by March 2018. The redevelopment of six hundred major railway stations is being taken up.

  Railways Capital Expenditure for the year 2018-19 has been pegged at Rs.1,48,528 crore. A large part of the Capex is devoted to capacity creation. 4000 kilometers of electrified railway network is slated for commissioning during 2017-18. .

  Mumbai‟s local train network will have 90 kilometers of double line tracks at a cost of over Rs.11, 000 crore. 150 kilometers of additional suburban network is being planned at a cost of over Rs.40, 000 crore, including elevated corridors on some sections.

 A suburban network of approximately 160 kilometers at an estimated cost of Rs.17, 000 crore is being planned to cater to the growth of the Bengaluru metropolis.

 The Budget proposes to expand the airport capacity more than five times to handle a billion trips a year under a new initiative -NABH Nirman. Under the Regional connectivity scheme of UDAN (Ude Desh ka Aam Nagrik) initiated by the Government last year, 56 unserved airports and 31 unserved helipads would be connected.

 

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