Bharatmala highway road project launched: Finance Minister Arun Jaitley on Tuesday announced a number of highway/road projects at an estimated cost of Rs 7 lakh crore.
Bharatmala highway road project launched: Finance Minister Arun Jaitley on Tuesday announced a number of highway/road projects at an estimated cost of Rs 7 lakh crore. Jaitley’s press conference also saw the announcement of Bharatmala highway road programme which plans to improve the connectivity all the way to the border areas, international ports and coastal regions. The plan, reportedly India’s biggest ever in the field of road connectivity, is aimed at improving economic activity and speeding up traffic flow on key corridors. Jaitley made the formal announcement regarding project via a press conference. He also elaborated on the state of the Indian economy and provided data on the same. Here are 10 key takeaways:
– Reforms to be effective in long run: “Negative effect of structural reforms is only for some time. In the long run it is beneficial. There are strong macroeconomic fundamentals,” Jaitley said.
– Will be ready for the challenge: “Last month when I met after GDP data of first quarter was released, I had said that all challenged in front of the country, the government would be ready with appropriate response. “We would appropriately be ready with response.”
– Fastest Growing Economy: “India has been fastest growing major economy for last 3 years, attempt is to maintain high growth rate,” FM Arun Jaitley said.
– Economy on strong wicket: “Indian economy on strong wicket; there are strong macro-economic fundamentals,” Jaitley said.
– On Railways: “Renewed focus on Indian Railways,” Arun Jaitley said
– “Universal affordable housing is being implemented,” Arun Jaitley said
– It’s time for New India Take Off: Arun Jaitley
It’s time for #NewIndiaTakeOff: @FinMinIndia
Watch LIVE: http://t.co/5qKs8ieG3V pic.twitter.com/WSO1xYRlQI— PIB India (@PIB_India) October 24, 2017
– Public Sector Banks will catalyse private investments: Arun Jaitley
LIVE: Public Sector Banks will catalyse private investments: @FinMinIndia http://t.co/5qKs8ieG3V #NewIndiaTakeOff pic.twitter.com/7qLxcLczdB
— PIB India (@PIB_India) October 24, 2017
– Government has approved an unprecedented PSB capitalisation plan of Rs. 2 lakh 11 thousand crores: Jaitley.
#Cabinet has approved an unprecedented PSB capitalisation plan of Rs. 2 lakh 11 thousand crores: @FinMinIndia #NewIndiaTakeOff pic.twitter.com/NwvBRpYa92
— PIB India (@PIB_India) October 24, 2017
– Various capital infusion measures taken by Govt. to ensure health of Public Sector Banks: Jaitley
LIVE: Various capital infusion measures taken by Govt. to ensure health of Public Sector Banks: @FinMinIndia http://t.co/5qKs8ieG3V pic.twitter.com/vHyov5Lwaa
— PIB India (@PIB_India) October 24, 2017
– Increased provisioning done by PSBs to cover expected losses, improving banks’ health: Jaitley
LIVE: Increased provisioning done by PSBs to cover expected losses, improving banks' health: @FinMinIndia http://t.co/5qKs8ieG3V pic.twitter.com/R4Q6ziFEqS
— PIB India (@PIB_India) October 24, 2017
-Ashok Lavasa,Finance Secretary, on BharatMala program: “The biggest component of road building program, the BharatMala program. 34,800 kms of roads to be built,” the Finance Secratary said
– SC Garg, Secy, DEA on biggest economic reforms: “GST has been the biggest reform, along with other ones like Demonetisation and the battle against black money,” said Garg.
