Budget 2019: Centre sets aside Rs 4.56 lakh crore for infra; Railways’ allocation up 21%, Aviation’s down 54%

Get real time updates directly on you device, subscribe now.

Budget 2019: Centre sets aside Rs 4.56 lakh crore for infra; Railways’ allocation up 21%, Aviation’s down 54%

Going with the momentum created over the last five years, interim finance minister Piyush Goyal apportioned a mammoth budgetary support of approximately Rs 4.56 lakh crore under the union budget for the infrastructure sector for financial year 2019-20.

This includes roadways, railways, shipping and aviation.

“Infrastructure is the backbone of any nation’s development and quality of life. Whether it is highways or railways or airways or even digi-ways, we have gone beyond incremental growth to attain transformative achievements,” Goyal said during the Budget presentation on February 1.

This budget is Modi government’s last budget before the country votes a new government to power during the Lok Sabha election due around April-May 2019.

Railways

Announcing the third combined railways budget, a budgetary support of Rs 66,768.67 crore was proposed for India’s travel lifeline.

Presenting the Budget, Goyal, who also holds the portfolio of railways, said that Indian Railways has “experienced the safest year in its history”.

He proposed to allocate Rs 1,58,658 crore as the capital expenditure, up from Rs 1,38,857.52 crore. The capital expenditure for FY19 was revised downwards, by 5.216 percent, from Rs 1,46,500 crore.

Allocation for railway safety fund (Rashtriya Rail Sanraksha Kosh) was Rs 20,000 crore, same as FY19.

The overall budgetary allocation was up from Rs 55,135 crore to Rs 66,768.67 crore, up by 21.10 percent.

Roadways

Despite highways seeing the maximum projects being taken up under the infra category during the last four years, the roadways was given a relatively smaller increment among the various infra-based sectors of Rs 83,015.97 crore.

Furthermore, Budget 2019 saw for the first time, government’s intent to have electric mobility by 2030.

“New India will drive on Electric Vehicles with renewables becoming a major source of energy supply,” Goyal said while presenting the budget.

Apart from National Highways, Centre upgraded fiscal spending on rural roads at Rs 19,000 crore under Pradhan Mantri Gram Sadak Yojana (PMGSY).

The allocation was Rs 15,500 crore during 2018-19 and Rs 16,862.12 crore during 2017-18.

Higher allocation underscores government’s pledge to provide connectivity across all “unconnected villages” by March 2019.

During FY19, PMGSY saw rural road construction of only 24,609.73 km as against the target of 58,000 km.

Shipping

The government has pitched for development of India’s Blue Economy with the Finance Ministry proposing an impressive Rs. 550 crore under Sagarmala.

This allocation was up from Rs 381.08 crore (revised estimates) allocated during 2018-19.

Underlining importance of developing India’s 7,500 km long coastline and converting them into industrial hubs, Centre’s launched its flagship programme for port development and modernisation, Sagarmala, in 2015.

It aims at promoting “port-led direct and indirect development” and augmenting infrastructure facilities to “transport goods to and from ports quickly, efficiently and cost-effectively”.

The total budgetary support to shipping sector was Rs 1,902.56 crore, down by 1.86 percent from Rs 1,938.76 crore during FY19.

Aviation

Under aviation, the finance ministry allocated Rs 4,500 crore for fiscal year 2019-20. This was down by 54 percent from Rs 9,700 crore (revised estimate) allocated during 2018-19.

Ministry of Civil Aviation has many tasks at hand, including reviving the national carrier, Air India, and supporting its regional connectivity scheme, UDAN. The scheme, whose third phase was launched recently, also plans to start flights for international destinations.

The ministry was allocated a total amount of Rs 9,700 crore during 2018-19 and Rs 2,663.99 crore during 2017-18.

Indian Union Budget 2019: What does the FM have up his sleeve in the run up to the General Elections? Click here for live Budget 2019 news, views, analyses and more.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2019-02-02 15:56:16

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

Get real time updates directly on you device, subscribe now.

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More