Budget 2018: The countdown to the Union Budget 2018 has begun. Finance Minister Arun Jaitley will present the last full Budget of the present government on February 1. Along with the general budget, Arun Jaitley will also present the railway budget, which is likely to get a big boost.
Budget 2018: The countdown to the Union Budget 2018 has begun. Finance Minister Arun Jaitley will present the last full Budget of the present government on February 1. Along with the general budget, Arun Jaitley will also present the railway budget, which is likely to get a big boost. BTVi quoting unidentified sources reported that the government may hike infrastructure spending target by nearly 25% and a Rs 3,000 crore plan is on cards for installing 12 lakh CCTV cameras at 8,500 stations and on 11,000 trains.
Arun Jaitley last month flagged concerns over infrastructural development in Railways. He said that while highways and ports have shown satisfactory results, infrastructure development in railways needs to be hurried. “Railway station, quality of trains, proposed bullet train, all need to be strengthened”.
Moreover, the overall infrastructural push is also likely to be on government’s agenda for the India Budget 2018. In the 2017 Budget, Finance Minister Arun Jaitley had given a massive push to the infrastructure sector and is likely to continue with it on agenda in the upcoming Budget as well.
In fact, for the NDA government, the infrastructure push has been a major target through all four Budgets. “Our infrastructure does not match our growth ambitions. There is a pressing need to increase public investment,” Arun Jaitley had said in 2015.
Watch Video: Budget 2018 To Focus On Infrastructure, Look At Private Capital To Fund Affordable Housing
The government had allocated a record Rs. 3.96 lakh crore to infrastructure sector to spur economic activities and create more jobs in the Budget 2017. However, while the government has upped its funding for the infrastructure sector, the private investments have remained mute. For the Budget 2018, the government has dropped enough hints about going for a massive infrastructure push, while reviving PPP (public-private partnership) model will continue to be a challenge.
Economic Affairs Secretary Subhash Garg had said that the government is planning to dedicate a large part of budget towards capital expenditure on infrastructure and will push for foreign investments in the sector. Meanwhile, the Railway ministry is also pegging Rs 20 lakh crore investment plan for high-speed corridors and other projects for the modernisation.