<p>Allocating a record Rs 3.96 lakh crore to infrastructure sector, Finance Minister Arun Jaitley today said the magnitude of investment will spur economic activities and create more jobs.<br /><br /></p>.<p>Presenting Budget for 2016-17 in Parliament, Jaitley said, "Total allocation for infrastructure stands at a record level Rs 3,96,135 crore in 2017-18."<br /><br />"The magnitude of investment", he said, will spur a huge amount of economic activities in the country and create more job opportunities.<br /><br />For the transport sector, as a whole, including railways, road, shipping, the Finance Minister said, "I have provided Rs 2,41,387 crore in 2017-18."<br /><br />The FM said, "I feel privileged to present the first combined budget of Independent India that includes the Railways also. We are now in a position to synergise the investment in railways, roads, waterways and civil aviation. For 2017-18, the total capital and development expenditure of Railways has been pegged at Rs 1,31,000 crore. This includes Rs 55,000 crore provided by the government from the Budget."<br /><br />For highways, he said the budget allocation has been stepped up to Rs 64,000 crore in FY18 from Rs 57,676 crore.<br /><br />He said, "In the road sector I have stepped up the budget allocation for the National Highways from Rs 57,676 crore in the BE of 2016-17 to Rs 64,000 crore in 2017-18."<br />Jaitley said 2,000 kms of coastal connectivity roads have been identified for construction and development.<br /><br />This will facilitate better connectivity of ports and remote villages, he said.<br />"The total length of roads including those under the Pradhan Mantri Gram Sadak Yojana (PMGSY) built from 2014-15 to current year is about 1,40,000 kms which is significantly higher than the previous three years," Jaitley said.<br /><br />He added that an effective multi-modal logistics and transport system will "make our economy more competitive. A specific programme for development of multi-modal logistic parks together with multi-modal facilities will be drawn up and implemented."<br /><br />On solar power front, he said the second phase of solar power development will be taken up with an aim of generating 20,000 MW.<br /><br />Also, he said select airports in tier-II cities will be taken up for operations and development on PPP mode.<br /><br />A new metro rail policy will have innovative methods of financing, the FM said. <br /></p>
<p>Allocating a record Rs 3.96 lakh crore to infrastructure sector, Finance Minister Arun Jaitley today said the magnitude of investment will spur economic activities and create more jobs.<br /><br /></p>.<p>Presenting Budget for 2016-17 in Parliament, Jaitley said, "Total allocation for infrastructure stands at a record level Rs 3,96,135 crore in 2017-18."<br /><br />"The magnitude of investment", he said, will spur a huge amount of economic activities in the country and create more job opportunities.<br /><br />For the transport sector, as a whole, including railways, road, shipping, the Finance Minister said, "I have provided Rs 2,41,387 crore in 2017-18."<br /><br />The FM said, "I feel privileged to present the first combined budget of Independent India that includes the Railways also. We are now in a position to synergise the investment in railways, roads, waterways and civil aviation. For 2017-18, the total capital and development expenditure of Railways has been pegged at Rs 1,31,000 crore. This includes Rs 55,000 crore provided by the government from the Budget."<br /><br />For highways, he said the budget allocation has been stepped up to Rs 64,000 crore in FY18 from Rs 57,676 crore.<br /><br />He said, "In the road sector I have stepped up the budget allocation for the National Highways from Rs 57,676 crore in the BE of 2016-17 to Rs 64,000 crore in 2017-18."<br />Jaitley said 2,000 kms of coastal connectivity roads have been identified for construction and development.<br /><br />This will facilitate better connectivity of ports and remote villages, he said.<br />"The total length of roads including those under the Pradhan Mantri Gram Sadak Yojana (PMGSY) built from 2014-15 to current year is about 1,40,000 kms which is significantly higher than the previous three years," Jaitley said.<br /><br />He added that an effective multi-modal logistics and transport system will "make our economy more competitive. A specific programme for development of multi-modal logistic parks together with multi-modal facilities will be drawn up and implemented."<br /><br />On solar power front, he said the second phase of solar power development will be taken up with an aim of generating 20,000 MW.<br /><br />Also, he said select airports in tier-II cities will be taken up for operations and development on PPP mode.<br /><br />A new metro rail policy will have innovative methods of financing, the FM said. <br /></p>