Infrastructure Development Across The Nation Will Continue: GOI

Infrastructure development will continue despite financial constraints, the government will not back down from providing additional funds for infra projects if required.

Despite the financial crisis caused by Corona, the government will not back down from providing additional funds for the development of the infrastructure project.

There has been a complete agreement in the Finance Ministry on this matter.

Recently, the government has announced a grant of 25,000 crores in addition to the budgetary provision towards the capital expenditure on the infra project.

So that there is no disruption in the road, security, drinking water supply, urban development, and purchase of domestically developed equipment.

In the budget of the current fiscal, a provision of Rs. 4.13 lakh crore was made for the development of infrastructure.

According to sources in the Finance Ministry, in addition to an additional provision of Rs 25,000 crore, new provisions will be made for the development of infrastructure.

Additional funds can be arranged for the Ministry of Urban Development and security-related projects. Additional funds may be demanded from them.

The state is also taking stock of their ongoing infrastructure development so that more funds can be provided to them as per requirement.

According to the Finance Ministry, the objective is that no project related to infrastructure development could be stopped due to a lack of funds.

In the current financial year, the government had targeted to take a loan of Rs 7.80 lakh crore.

Due to Corona, the economic situation of the government was staggered and the debt target was increased by 54 percent to 12 lakh crore.

According to highly placed sources in the finance ministry sources, the target of the loan will not be increased further, but the government will not back down from funding the development of the infrastructure.

The expenditure on infrastructure projects will help in the GDP growth of the coming years along with the increase in GDP of the current financial year.

According to Finance Ministry sources, the main focus is currently on the infrastructure project.

The entire list of projects is ready to lay a nationwide infrastructure under the National Infrastructure Pipeline (NIP). It has an investment target of Rs 100 crore.

Three days ago, Prime Minister Narendra Modi addressed the country’s big institutional investors so that they would invest in India’s infrastructure projects.