Finance Minister Nirmala Sitharaman has put the most focus on the development of infrastructure and highways after the health sector in the 2021-22 budget to accelerate the slowing economy due to the Corona transition. It has announced the creation of new economic corridors to enhance road infrastructure. This will benefit double.
With the development of roads, the industrial units set up in these new economic corridors will also generate employment. The government will also set up a Development Financial Institute (DFI) at a cost of Rs 20 thousand crores. The Finance Minister said that through this institute, the target is to raise five lakh crore rupees in three years.
Significantly, 7400 projects have now been identified for funding under the National Infrastructure Pipeline. The government plans to raise Rs 111 lakh crore for the ambitious National Infrastructure Pipeline between 2020-25. An additional provision of Rs 1 lakh 18 thousand 101 crores has also been made for the Ministry of Road Transport in the budget.
The Finance Minister said that 3.3 lakh crores have been given so far for the Bharatmala project. Now, new economic corridors will be built to increase road infrastructure. The National Highway Authority (NHA) will be able to receive international investment.
The work of these highways will begin this year
Delhi-Mumbai Expressway: The remaining work of 260 km will be completed by March this year.
Delhi-Dehradun Economic Corridor: Construction of the 210 km corridor will start this year.
Delhi-Katra and Amritsar-Jamnagar: Construction of both highways will start in 2021-22.
Kanpur-Lucknow Expressway: Optional 63 km expressway for NH-27 from this year.
Bengaluru-Chennai Expressway: The work of 278 km will start in the current financial year.
Chennai-Salem Corridor: Construction of 277 km long expressway also from this year.
Raipur-Visakhapatnam: The 464 km road passing through Chhattisgarh, Odisha, and northern Andhra Pradesh will start this year.
'General Budget presents a new picture of self-reliant India'
On the General Budget, Union Ministers Prakash Javadekar and Samriti Irani in their response have called the General Budget the budget of public aspirations. Union Climate Change and Environment Minister Prakash Javadekar said that this is the budget for progress and development. He said that the general budget presented in the Parliament by Finance Minister Nirmala Sitharaman is in accordance with the public sentiments of the common man.
He said that when the whole world was struggling with the coronavirus epidemic, economies around the world were getting badly affected. In such a situation, India turned this disaster into an opportunity. In the country, we have further strengthened our growing steps towards reducing poverty and prosperity and the country is moving forward day by day.
Highlighting the huge budgetary increase in capital expenditure, the Union Minister said that investment of more than five lakh crore rupees in infrastructure is a big initiative, he believes that it will give employees a big achievement.
At the same time, Union Women and Child Development Minister Smriti Irani, while giving her feedback on the general budget, wrote that congratulations to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. Appreciation for a balanced, progressive budget for presenting a self-sufficient India budget. This will provide more opportunities to our domestic interest holders in all areas.