Mukherjee allocates Rs.2,14,000 crore for infrastructure sector

February 28th, 2011 - 4:11 pm ICT by ANI  

Pranab Mukherjee New Delhi, Feb 28 (ANI): Union Finance Minister Pranab Mukherjee on Monday proposed an allocation of Rs.2,14,000 crore for infrastructure sector, which is 23.3 percent higher than the current year.

This amounts to 48.5 percent of the Gross Budgetary support to plan expenditure.

Announcing the General Budget 2011-12 in the Lok Sabha today, Mukherjee stated that in order to give a boost to infrastructure development in railways, ports, housing and highways development, it has been proposed to allow tax-free bonds of Rs.30, 000 crore to be issued by various government undertakings in the year 2011-12.

This includes Indian Railway Finance Corporation Rs.10, 000 crore; National Highway Authority of India Rs.10, 000 crore; HUDCO Rs.5000 crore and Ports Rs.5000 crore.

Mukherjee informed that India Infrastructure Finance Company Limited (IIFCL) is expected to achieve a cumulative disbursement of Rs.25, 000 crore by March 31, 2012.

Under the “take out financing scheme”, seven projects have been sanctioned with a debt of Rs.1500 crore. Another Rs.5000 crore will be sanctioned during 2011-12, he informed. (ANI)

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