B.K. Chaturvedi


Boost to infrastructure

Union Budget 2012-13 has a number of measures for supporting investments in infrastructure and resolving some of the constraints. The Prime Minister had earlier talked about $1 trillion investment during the Plan. Effective policy interventions have been outlined by the finance minister in his Budget speech.
An important initiative to promote investment in the sector in the past has been tax-free infrastructure bonds. During past year this limit was set at `30,000 crore; it has now been increased to `60,000 crore. This covers road, rail, power plants, housing and other infrastructure areas.

Infrastructure will expand

Budget 2011-12 has several major initiatives for financing infrastructure projects and stepping up investment in this sector. The 13th Finance Commission had, in its report, suggested a path of fiscal consolidation. The Budget proposals of 2011-12 are in conformity with this and fiscal deficit is targeted to go down to 4.6 per cent as against 4.8 per cent indicated previously. Lower deficit will enable availability of funds for the private sector and this will ensure large flow of resources to infrastructure projects, too.

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