Infrastructure Gets a Big boost,Rs 6 Lakh Crore to be invested

     Written by : SMTV24x7 | Fri, Feb 02, 2018, 12:39 PM

Infrastructure Gets a Big boost,Rs 6 Lakh Crore to be invested

New Delhi Feb 2: Finance minister Arun Jaitley on Thursday has presented the budget.The Finance Minister has focused a lot on the Infrastructure creation. FM has said that "India will invest as much as Rs5.97 trillion in creating and upgrading infrastructure in the next financial year."

Jaitley in his budget has announced that "Our country needs massive investments estimated to be in excess of Rs50 lakh crore in infrastructure to increase the growth of GDP, connect and integrate the nation with a network of roads, airports, railways, ports and inland waterways and to provide good quality services to our people".

The Government has also imposed Rs8 per liter road and infrastructure cess on imported petrol and diesel.FM has added that "The government and market regulators have taken necessary measures for development of monetizing vehicles like Infrastructure Investment Trust (InvIT) and Real Estate Investment Trust (ReITs) in India. The government would initiate monetizing select CPSE (central public sector enterprises) assets using InvITs from next year."

"Reserve Bank of India has issued guidelines to nudge corporates to access the bond market. Sebi (Securities and Exchange Board of India) will also consider mandating, beginning with large corporates, to meet about one-fourth of their financing needs from the bond market," he added.

Jaitley added that " the cabinet approved the ambitious Bharatmala (roads) scheme to strengthen the roads network, for which the government will raise Rs5.35 trillion as equity from the market."