Budget 2016: Infrastructure, investments, PPP – Here’s what Arun Jaitley has proposed

Union Finance Minister Arun Jaitley on Monday announced a slew of measures to boost infrastructure and investment in the country, with a focus on roads and highways. He also announced steps to re-vitalise PPPs.

By: Express Web Desk | New Delhi | Updated: February 29, 2016 5:09 pm
As per the proposal, the specification for four-laning national highways is being reduced to 10,000 passenger car units (PCUs) per day in the plains, down from 15,000 PCUs. Representational image.

Union Finance Minister Arun Jaitley on Monday announced a slew of measures to boost infrastructure and investment in the country, with a focus on roads and highways. He also announced steps to re-vitalise PPPs.

Watch Budget 2016: Editors First Take on Arun Jaitley’s Announcements

Here are the details:

INFRASTRUCTURE AND INVESTMENT

* Total investment in the road sector, including PMGSY allocation, would be Rs 97,000 crore during 2016-17.

* India’s highest ever kilometres of new highways were awarded in 2015.

* To approve nearly 10,000 kms of National Highways in 2016-17.

* Allocation of Rs 55,000 crore in the Budget for Roads.

* Additional Rs 15,000 crore to be raised by NHAI through bonds.

* Total outlay for infrastructure – Rs 2,21,246 crore.

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* Amendments to be made in Motor Vehicles Act to open up the road transport sector in the passenger segment

* Action plan for revival of unserved and underserved airports to be drawn up in partnership with State Governments.

* To provide calibrated marketing freedom in order to incentivise gas production from deep-water, ultra deep-water and high pressure-high temperature areas

* Comprehensive plan, spanning next 15 to 20 years, to augment the investment in nuclear power generation to be drawn up.

Steps to re-vitalise PPPs:

* Public Utility (Resolution of Disputes) Bill will be introduced during 2016-17

* Guidelines for renegotiation of PPP Concession Agreements will be issued

* New credit rating system for infrastructure projects to be introduced

* Reforms in FDI policy in the areas of Insurance and Pension, Asset Reconstruction Companies, Stock Exchanges.

* 100% FDI to be allowed through FIPB route in marketing of food products produced and manufactured in India.

* A new policy for management of Government investment in Public Sector Enterprises, including disinvestment and strategic sale 7 approved.

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