Union Budget: Govt Announces Booster Dose For Rural Roads, Other Infra
In order to boost infrastructure in the rural areas, Government plans to upgrade 1,25,000 kms of road length with an expected cost of Rs 80, 250 crore in the five years under the Pradhan Mantri Gram Sadak Yojana (PMGY), Finance Minister Nirmala Sitharaman announced today. “We propose to upgrade 1,25,000 kms of road length over the next five years, with an estimated cost of Rs. 80,250 crore under the PMGSY-III”, Sitharaman said while presenting the Union Budget 2019-20.
She also proposed public private partnership model for improving railway infrastructure like development and completion of rolling stock manufacturing, tracks and delivery of passengers freight services as over Rs 50 lakh crore investment is needed for the purpose between 2018-2030.
The minister also announced setting up of Credit Guarantee Enhancement Corporation in 2019-20 for augmenting sources of capital for financing infrastructure projects.