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Economic Times | 05 Feb, 2021 | 08.42AM IST
Budget 2021 Live Updates: IMF welcomes India's focus on growth in Union Budget
Gerry Rice, Director of Communications at the IMF, said the Union Budget rightly focuses on health, education, public infrastructure and, if fully implemented, can help increase India's growth potential.
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Budget allocation for GIAN scheme doubled: Ramesh Pokhriyal
- "Government has the scheme to tap the talent pool of scientists and entrepreneurs globally to encourage their engagement with institutes of higher education here to augment our academic resources. We've doubled the budget allocation for GIAN scheme now which has reached up to $1.6 million," Union Education Minister Ramesh Pokriyal 'Nishank' said.
- The GIAN programme was formally launched by the Union Minister for Human Resource Development, Smriti Zubin Irani on November 30, 2015, at IIT Gandhi Nagar.
- The Global Initiative of Academic Networks (GIAN) is intended to enlarge and deepen the interface of India's institutions of higher learning and globally recognised institutions of academic eminence.
Indian Railways has now the highest ever total Plan CAPEX
According to a release by the Ministry of Railways, Indian Railways has now the highest ever total Plan capital expenditure (CAPEX) of Rs 2,15,058 crores this year with Rs. 7,500 crores from internal resources, Rs 1,00,258 crores from extra budgetary resources and Rs 1,07,100 crores for capital expenditure allocation given in the General Budget.
Piyush Goyal says Budget has been historic to Railways
"The General Budget 2021 has been historic for Indian Railways. It has focussed on infrastructure projects in Indian Railways. The highest capex for Indian Railways will act as a huge catalyst to revitalise the economy & lead Indian Railways towards Aatmanirbhar Bharat," Union Minister Piyush Goyal said.
South Central Railway allocated Rs 7,222 cr in Union budget
A total of Rs 7,222 crores has been allocated to the South Central Railway for infrastructural development in the Union Budget 2021-2022, informed the General Manager of South Central Railway Gajanan Mallya on Thursday.
According to the General Manager of SCR:
According to the General Manager of SCR:
- Rs 4,238 crores has been allocated for doubling, third line and bypass line works.
- For new lines the total budgetary grant is Rs 2,195 crores.
- For electrification works the budgetary grant is Rs 617 crores and Rs 173 crores for traffic facilities.
- Rs 672 crores are allocated for road safety works including level crossings, bridges and road under bridges and road over bridges.
- Rs 374 crores for construction of road over/under bridges on golden quadrilateral and diagonal routes.
- Rs 862 crores for Track Renewal works have been allocated in the budget.
And we also agree with the need to further strengthen the financial sector and look forward to the details of the proposed measures in that area.
- Gerry Rice, Director of Communications, IMF
We also welcome measures to improve fiscal transparency by including food subsidies in the budget. Of course, a medium-term fiscal consolidation strategy will be important to ensure credibility.
- Gerry Rice, Director of Communications, IMF
We welcome the Indian government budget's focus on growth. Fiscal policy can and should play an important role in facilitating a strong and inclusive economic recovery.
- Gerry Rice, Director of Communications, IMF
