<p>By continuing to maintain the delicate balance between the priorities for India and Bharat, the Budget has created growth impulses for the infrastructure sector and farmers, alike. <br /><br /></p>.<p>Budget 2016-17, underscores the government’s commitment to provide further impetus by way of a clear action plan for sustainable growth of India’s infrastructure — the single largest investment opportunity in the world. <br /><br />Decades of underinvestment have created deficits in critical areas such as roads, highways and railways. A combined budgetary allocation of Rs 2.8 lakh crore for roads and railways will have a positive impact on ensuring sustainable development of infrastructure.<br /><br />The road sector continues to be a focus sector, with a dedicated budget allocation of Rs 97,000 crore for development of roads and highways. Some 85% projects are now back on track. An increase of more than 30%, over planned expenditure, with a target to build 10,000 km of National Highways, has created positive sentiments. <br /><br />In addition, upgradation of 50,000 km of State Highways to National Highways will ensure development of roads in line with the NHDP programme. <br /><br />Jaitley has also announced issuance of Rs 15,000 crore worth of tax-free bonds. The ambitious, yet achievable target of building 30 kms roads per day, will be instrumental in bridging the developmental gap since 2012-14, during which only 5,100 km of road projects were awarded.<br /><br />The step up in budgetary support, coupled with a clearly laid out road map for all round development, will send positive signals to investor and lenders, who have been cautious about the infrastructure sector. <br /><br />Game Changer<br /><br />Quality physical infrastructure is vital for business generation and youth employment, and provides impetus to nurture the entrepreneurial zeal of a high growth economy. <br /><br />However, multiplicity of departments, creates a systemic imbalance. A unified infrastructure regulatory authority with a clear mandate to formulate and implement development strategies, is crucial to improve logistics and ensure balanced, long-term development, build consensus with all stakeholder and ensure effective Centre-State relationship.<br /><br /> (The author is MD and CEO of YES Bank)</p>
<p>By continuing to maintain the delicate balance between the priorities for India and Bharat, the Budget has created growth impulses for the infrastructure sector and farmers, alike. <br /><br /></p>.<p>Budget 2016-17, underscores the government’s commitment to provide further impetus by way of a clear action plan for sustainable growth of India’s infrastructure — the single largest investment opportunity in the world. <br /><br />Decades of underinvestment have created deficits in critical areas such as roads, highways and railways. A combined budgetary allocation of Rs 2.8 lakh crore for roads and railways will have a positive impact on ensuring sustainable development of infrastructure.<br /><br />The road sector continues to be a focus sector, with a dedicated budget allocation of Rs 97,000 crore for development of roads and highways. Some 85% projects are now back on track. An increase of more than 30%, over planned expenditure, with a target to build 10,000 km of National Highways, has created positive sentiments. <br /><br />In addition, upgradation of 50,000 km of State Highways to National Highways will ensure development of roads in line with the NHDP programme. <br /><br />Jaitley has also announced issuance of Rs 15,000 crore worth of tax-free bonds. The ambitious, yet achievable target of building 30 kms roads per day, will be instrumental in bridging the developmental gap since 2012-14, during which only 5,100 km of road projects were awarded.<br /><br />The step up in budgetary support, coupled with a clearly laid out road map for all round development, will send positive signals to investor and lenders, who have been cautious about the infrastructure sector. <br /><br />Game Changer<br /><br />Quality physical infrastructure is vital for business generation and youth employment, and provides impetus to nurture the entrepreneurial zeal of a high growth economy. <br /><br />However, multiplicity of departments, creates a systemic imbalance. A unified infrastructure regulatory authority with a clear mandate to formulate and implement development strategies, is crucial to improve logistics and ensure balanced, long-term development, build consensus with all stakeholder and ensure effective Centre-State relationship.<br /><br /> (The author is MD and CEO of YES Bank)</p>
