Outcome of Budget 2016 for Infrastructure and Roads Development

Budget 2016 has been released and certain reforms have taken place in the infrastructure sector. Here are the frontline points, mentioned in this year’s budget by India’s Finance Minister, Hon. Mr. Arun Jaitley:-

• Allocating funds worth of Rs.55,000 Cr for the construction of roads and highways; excluding  Rs. 15,000 Cr from NHAI bonds
• Total budget allocated to the Roads and Highway Construction is 97000 Cr which is inclusive of Pradhanmantri Gram SadakYojana (PMGSY).
• Total outlay of Rs. 2,18,000 Crores declared for Rail and Road development
• 10,000Kms of roads will be improved and 50,000Kms of state highways will be upgraded to National highways. The budget allocated for the same is Rs. 2,21,046 Crores
• Aiming to achieve 100% village electrification by 1st May 2018
• 10 public and 10 private sector educational institutions will be made world class
• 160 airports and airstrips can be revived in infrastructure
• 100% FDI will be enabled for the food products produced and marketed in India for the Food Processing Industry