The government is emphasizing on strengthening the infrastructure in rural areas so that they can be connected to urban development centers. By increasing the allocation in infrastructure items, urban markets will also benefit and employment will increase.
The government has focused on rural infrastructure in this budget. Finance Minister Nirmala Sitharaman has increased the allocation on rural infrastructure development by 34 percent to Rs 40 thousand crore.
Apart from this, the allocation in small irrigation projects has been doubled to ten thousand crore rupees. By increasing the allocation in infrastructure items, urban markets will also benefit and employment will increase.
Emphasis on road projects and corridors
The government has laid emphasis on the corridor on road projects. Under this, 3500 km corridor will be built in Tamil Nadu. In Kerala, 1100 km of highways will cost 65,000 crores and in West Bengal 675 km of highways will be built at a cost of 25,000 crores. With this, 1300 km of highway will be built in Assam in the next three years.
Employment will increase from textile parks
In addition to PLI, the Mega Investment Textile Park Scheme will come. Textile Park will bring big investment. This will increase employment. Seven textile parks will be built in the country in the next three years. The National Infrastructure Pipeline launched in 2019 has now been expanded to 7,400 projects. Under this, 217 projects worth 1.10 lakh crore have also been completed.
Infrastructure financing is also arranged
The Finance Minister has made a provision of 20 thousand crores for the Development Financial Institution. A bill will be brought in Parliament for the formation of DFI. Infrastructure financing has been a major problem. Hopefully this will reduce its difficulty. In last year’s budget, there was an emphasis on railways and highways.
The government had proposed Rs 1.7 lakh crore in the budget for infrastructure in it, in which it was announced to speed up the construction of the highway. This year, Rs 1,18,101 lakh crore has been allocated for the Ministry of Road Transport and Highways. For the development of rural infrastructure, the allocation has been increased to 40 thousand crores. Which was 30 thousand crores in FY 2021.
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