FICCI Infra Committee welcomes enhanced investments for infra projects: Union Budget

FICCI's National Committee on Infrastructure has welcomed the announcement by Union Finance minister Arun Jaitley of an overall increase of Rs.70,000 crore in investment in infrastructure in fiscal year 2015-16 over the current year as well as setting up of Rs 5000 crore National Investment Infrastructure fund in the new budget.

"We welcome the increase of much needed increase of investment in Infrastructure and it will give boost to the infrastructure projects in the country. India's infrastructure deficit is enormous and huge new investments were needed in the infrastructure sector over a five-year period, to improve connectivity and boost energy supplies. The lack of infrastructure, evident across India in sectors including aviation, ports, roads and highways, railways, power and telecommunications, has stunted growth levels in recent years, preventing the economy from realising its full potential." Mr K .K. Kapila, Co-chairman, FICCI's national committee on Infrastructure and Chairman, International Road Federation (IRF).

"We also welcome the announcement of setting up of Five ultra mega power projects of 4000 MW each , this will help in fulfilling the energy needs of the nation. The allocation increase to the roads sector by Rs.14,031 crore and that in railways by Rs.10,050 crore is also welcome. Improvement of transport, road and rail sector will boost the economy of the country as good connectivity always helps the economy"said Mr Kapila.

Source : Equity Bulls

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