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Budget 2024 for Infrastructure Sector
What are the top expectations for the Infrastructure Sector in the upcoming Interim Budget 2024-2025? Click on to financialexpress.com and get a comprehensive idea on our dedicated page Who Gets What. Navigate through a handy ready reckoner, meticulously crafted to provide a glance at previous Budgets declarations for the sector.
Budget 2024 Announcements for Infrastructure Sector
Infrastructure Sector
- Sitharaman noted the significant advancements in the aviation sector over the past decade, highlighting that the number of airports has doubled to 149.
- FM emphasised the substantial progress of the UDAN scheme, with 517 operational routes.
- The Finance Minister underscored the ongoing expansion of existing airports and the rapid development of new ones.
- The infrastructure budget receives an 11% boost, now standing at Rs 11.11 lakh crore.
- Continuing the Gati Shakti master plan, state governments are offered an extension of 50-year interest-free loans for another year.
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Budget Announcements for Infrastructure Sector in FY2024
Infrastructure Sector
- Increase in government capex on infrastructure to Rs 10 lakh crore, increase of 33% compared to last year.
- To allocate Rs 15000 crore over three years under Schedule Tribe Mission towards safe housing and infrastructure development towards Road.
- 100 transport infrastructure projects, for last and first mile connectivity will be taken up on priority with investment of Rs 75,000 crore (Rs 15,000 crore from private sources).
- Urban Infrastructure Development Fund (UIDF) will be established through use of priority sector lending shortfall.
Budget Announcements for Infrastructure Sector in FY2023
Infrastructure Sector
- Projects in the National Infrastructure Pipeline related to transport and logistics infrastructure were announced that will align with the PM GatiShakti framework
- The Prime Minister’s Development Initiative for North-East (PM-DevINE) was announced to be executed via the North-Eastern Council to finance development projects in the North-East region.
- It has been announced that an allocation of one lakh crore rupees is being disbursed to states as 50-year interest-free loans to stimulate investments.
- The development of the PM GatiShakti Master Plan for Expressways has been revealed for the fiscal year 2022-23.
- Plans are in place to expand the National Highways network by 25,000 km during the same period.
Budget Announcements for Infrastructure Sector in FY2022
Infrastructure Sector
- Introduction of a Bill to establish a Development Financial Institution (DFI) for infrastructure financing.
- Proclaimed establishing 7 textile parks in 3 years for infrastructure & export growth.
- Announced economic corridors for bolstering road infrastructure planned in Tamil Nadu, Kerala, West Bengal, and Assam.
- Announced seven projects for major ports on a public-private partnership mode in 2021-22.
Budget Announcements for Infrastructure Sector in FY2021
Infrastructure Sector
- Government notified 6,500 projects in National Infrastructure Pipeline covering housing, water, healthcare, and more.
- Release of National Logistics Policy clarifying roles of central & state governments and key regulators, establishing a single window e-logistics market.
- Disclosed development of five new smart cities in collaboration with states through public-private partnerships.
Budget Announcements for Infrastructure Sector in FY2020
Infrastructure Sector
- Proclaimed establishment of one lakh digital villages within the next five years.
- The fund allocation for infrastructure development in the Northeast region has risen to ₹ 58,166 crore, marking a 21% increase compared to last year
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