Union Finance Minister Nirmala Sitharaman presents the Union Budget 2019-20 in the Lok Sabha at Parliament, in New Delhi, Friday, July 05, 2019 (LSTV Grab/PTI Photo)Putting emphasis on water transport, the government on Friday proposed to boost inland waterways, while presenting the Union Budget today. Budget 2019 LIVE Updates
In her budget speech, Finance Minister Nirmala Sitharaman said that developing inland waterways would lessen the burden of cargo transport through rail and road. She also said that the cargo movement in Ganga will increase 4 times in 4 years.
Sitharaman also proposed a public-private partnership in Railways. She said, “Railway infrastructure would need an investment of Rs 50 lakh crore between 2018 and 2030. We are looking to implement one nation, one grid in the power sector. I propose to implement a blueprint for gas, water grids and airports.”
Need to develop inland waterways to shift portion of cargo movement from road and rail: FM @nsitharaman. #Budget2019 #BudgetWithRSTV #BudgetForNewIndia @FinMinIndia
— Rajya Sabha TV (@rajyasabhatv) July 5, 2019
Besides this, the government also proposed to streamline labour laws, opening up of FDI in various sectors and capital infusion in PSBs.
India’s first woman Union Finance Minister in almost five decades, Sitharaman presented the full-fledged Union Budget for the current financial year.
The Budget is expected to boost spending at the cost of short-term slippage in fiscal deficit targets as she lays down the Modi 2.0 government’s road map for the economy and the nation in the next five years.
