Zee Media Bureau
New Delhi: Finance Minister Arun Jaitley has proposed an increase in investment in infrastructure by Rs 70,000 crore in the year 2015-16 over the year 2014-15 from the Centre’s funds and resources of CPSEs.
Presenting the General Budget 2015-16 in the Lok Sabha here today, the Finance Minister stated that the present state of infrastructure does not match the growth ambitions. Hence he has increased outlay on both the roads and the gross budgetary support to the Railways by Rs. 14,031 crore and Rs. 10,050 crores.
The CAPEX of the public sector units is expected to be Rs.3,17,889 crores, an increase of approx. Rs. 80,844 crores over RE 2014-15.
The FM also announced the setting up of a National Investment and Infrastructure Fund (NIIF).
Jaitley stated that an annual flow of Rs 20,000 crore will be ensured for the NIIF. This will enable the Trust to raise debt, and in turn, invest as equity, in infrastructure finance companies such as IRFC and NHB. The infrastructure finance companies can then leverage this extra equity, manifold.
