Modi government is set to announce its last budget ahead of the Lok Sabha elections. Union minister Piyush Goyal will present the budget in absence of Arun Jaitley. Keeping in mind about the upcoming Lok Sabha elections, Modi government is expected to bring some cheer for middle-class with an aim to woo voters with the main focus being on farmers.
Although farmers are in focus, roads and transport is also a key sector in the budget. India has one of the largest road largest road network of over 56.17 lakh km comprising National Highways, Expressways, State Highways, Major District Roads, Other District Roads and Village Roads.
Meanwhile, ahead of the 2019 union budget, we list some of the expectations industry and common man expects.
- One-time package for completion of projects from NHDP which have now been combined with the Bharatmala Pariyojanato completion of long pending project. This package should be in addition to the outlay for Ministry of Roads Highways and Transport (MoRTH).
- Founder & CEO of ‘NavAlt Solar & Electric Boats’ Sandith Thandasherry has demanded to reduce the GST and subsidy in the ship-building and boat manufacturing sector. Thandasherry quoted in com, “Major cost of the solar boat is marine grade lithium batteries which are being imported. Until the technology is developed in India, the government should make a policy to provide an exemption of import duty of marine grade lithium batteries”.
- The industry has been facing issues with GST e-way bill. The hardship on account of the same has been causing disruptions in generating the same and availing of credit on the same is thus affected. Though rationalisation on the same front is already underway, more on the same front is expected as this would benefit MSMEs in the ease of doing business.
- According to a report in Zee Business, the road & transport ministry has demanded 30 per cent hike in funds. Last year, the Modi government in their full budget allocated Rs 1,34,572 crores to the transport sector which was also the highest in all-time.
- As per a report in com, the road transport ministry likely to get Rs 71,000 crore allocation in the upcoming budget. The ministry has demanded Rs 95,000 crore from the ministry.
- Industry body FICCIhas demanded to cut down the customs duty on rope propelled transport by 5 per cent. The basic customs duty applicable to rope propelled transport solutions is 10 per cent. Rope-propelled urban transport solutions have an application in several government initiatives such as new Metro Policy 2017, Smart City Projects, Last Mile Connectivity, Mass Rapid Transit Systems (MRTS) for non-metro towns in the country etc., says an NDTV report.
- The Centre is likely to make most awaited announcement on inland waterway transport (IWT) transport, including ‘Jal Marg Vikas Project’ (JMVP) along the river Ganga on National Waterway 1 between Haldia and Allahabad. In 2018-19, finance minister Arun Jaitley allocated Rs 5.97 lakh crore for infrastructure development which includes roads, railways, airports, ports and inland waterways.
- A CNBCTV18.com report says, that the rural schemes like Pradhan Mantri Gram Sadak Yojana (PMGSAY) is likely to get usual raise in the fund allocation to further push the rural infrastructure. In 2018, government allocated Rs 19,000 crore for development of roads in rural and backward areas under the PMGSY.