Union Budget 2014-15: Infrastructure
Union Finance Minister, Arun Jaitley presented Union Budget 2014-15.
Union Finance Minister, Arun Jaitley on 10 July 2014 presented Union Budget 2014-15. The Union Budget provided finances to set up an institute which provides support to mainstream the 4PIndia, Comprehensive policy will be announced, to develop Jal Marg Vikas (project on Ganges) and encouraging Tier I and Tier II airports.
• An institution to provide support to mainstreaming (People Public Private Partnership - PPPPs) called 4PIndia to be set up with a corpus of 500 crores rupees.
• 11635 crore rupees will be allocated for the development of Outer Harbour Project in Tuticorin for phase I.
• SEZs will be developed in Kandla and JNPT.
• Comprehensive policy to be announced to promote Indian ship building industry.
• Project on Ganges called Jal Marg Vikas to be developed between Allahabad and Haldia.
• Scheme for development of new airports in Tier I and Tier II Cities to be launched.
• Sector needs huge amount of investment along with debottlenecking from maze of clearances.
• An investment of an amount of 37880 crores rupees in NHAI and State Roads is proposed which includes 3000 crores rupees for the North East.
• Target of NH construction of 8500 km will be achieved in current financial year.
• Work on select expressways in parallel to the development of the Industrial Corridors will be initiated. For project preparation NHAI shall set aside a sum of 500 crore rupees.
Petroleum & Natural Gas
• Production and exploitation of Coal Bed Methane reserves will be accelerated.
• Possibility of using modern technology to revive old or closed wells to be explored.
• Usage of PNG to be rapidly scaled up in a Mission mode.
• Proposal to develop pipelines using appropriate PPP models.
• Changes, if necessary, in the MMDR Act, 1957 to be introduced to encourage investment in mining sector and promote sustainable mining practices.