Mukherjee allocates Rs.2,14,000 crore for infrastructure sector
February 28th, 2011 - 4:11 pm ICT by ANI
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)
- Tax-free bond target for infrastructure projects at Rs.60,000 crore - Mar 16, 2012
- Use incentives to build affordable housing: Minister - Feb 28, 2011
- Use incentives to build affordable housing: Selja (Lead) - Feb 28, 2011
- Funds for computerising courts doubled - Mar 16, 2012
- India to raise $1.9 bn debt for building highways - Nov 23, 2011
- Budget boost for women, child development programmes - Mar 16, 2012
- Mukherjee to present Budget 2011 with focus on infrastructure, tax liability - Feb 27, 2011
- Pranab Mukherjee to present Union Budget in Parliament - Feb 28, 2011
- Government to raise Rs.30,000 crore from disinvestment - Mar 16, 2012
- Air India to get Rs.4,000 crore budget support for 2012-13 - Mar 16, 2012
- JD -U wants agriculture, farmer-friendly Union Budget - Feb 27, 2011
- Prominent highlights of 2012-13 budget - Mar 16, 2012
- Pranab's budget lacks vision, will enrich affluent: Swaraj - Mar 02, 2011
- Highlights of Union Budget 2011-12 (Part-III) - Feb 28, 2011
- Allocation for agriculture up 18 percent - Mar 16, 2012
Tags: budgetary support, crore, disbursement, finance company, finance corporation, hudco, iifcl, india infrastructure, india rs, indian railway, infrastructure development, infrastructure finance, infrastructure sector, Lok Sabha, national highway authority of india, plan expenditure, pranab mukherjee, tax free bonds, undertakings, union finance minister