Infrastructure (Budget 2014-15)

Infrastructure Budget 2014-2015 PAWEL GAUTAM

Introduction

• Infrastructure refers to the basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function

Shipping

• Sixteen new port projects are proposed to be awarded this year with a focus on port connectivity.

• 11,635 crore will be allocated for the development of Outer Harbour Project in Tuticorin for phase I.

• SEZs will also be developed in Kandla and JNPT

• Single-window customs clearances at Indian ports.

Airports in tier I and tier II cities to be developed via the public-private partnership model.

• Propose investment in National Highways Authority of India and State Roads of an amount of `37,880 crores, which includes 3,000 crores for the North East.

• the Budget allocates Rs 14,389 crore for Pradhan Mantri Gram Sadak Yojna (PMGSY).

• To ensure 24×7 uninterrupted power supplies in rural areas, Union Budget 2014 has announced Deendayal Upadhyaya Gram Jyoti Yojana and earmarked Rs 500 crore for the scheme.

• To promote cleaner and more efficient thermal power, FM propose to allocate an initial sum of 100 crore for preparatory work for a new scheme “Ultra-Modern Super Critical Coal Based Thermal Power Technology.”

• launching a scheme for solar power driven agricultural pump sets and water pumping stations for energizing one lakh pumps. FM propose to allocate a sum of 400 crores for this purpose.

• 100 crore is set aside for the development of 1 MW Solar Parks on the banks of canals

• Commitment to develop 100 smart cities with an outlay of Rs7,060 crore.

• Rs12,000 crore allocation to National Housing Bank for funding low-cost housing in urban and rural areas.

• Built-up area for foreign direct investment (FDI) in real estate decreased from 50,000 sq. m to 20,000 sq. m and minimum capital requirement halved to $5 million.

Other Infrastructure Projects

• For scientific warehousing infrastructure, the Budget has allocated Rs 5,000 crore.

• To strengthen and modernise the boarder infrastructure, the Budget has earmarked Rs 2250 crore

•Union Budget has proposed to raise the corpus of Rural Infrastructure Development Fund (RIDF) by an additional Rs 5,000 crore.

• Rs 100 crores has been set aside for the Agri-tech infrastructural funds.

You and I come by road or rail, but economists travel on infrastructure.