Highway-building put in fast lane
Move to allow an extra Rs 20,000 in long-term infrastructure bonds under 80C is also seen as a push for long-term finance availability for highway developers.
By TNN |
NEW DELHI: The UPA’s determination to push road and highway construction in the country is clear. Allocation to the sector is up by 13% — from Rs 17,520 crore to Rs 19,894 crore.
The move to exempt critical roadmaking equipment from import duty and expected loan disbursement of Rs 20,000 crore by March next year by India Infrastructure Finance Company Ltd (IIFCL ) are strong indications of the government’s backing for the ambitious plan to construct 20km of highway per day.
IIFCL was set up to provide long-term financial assistance to infrastructure projects. Finance minister Pranab Mukherjee said, ‘‘The take-out financing scheme announced in the last Budget is expected to initially provide funding of about Rs 25,000 crore in the next three years.’’
The move to allow an extra Rs 20,000 in long-term infrastructure bonds under 80C from 2010 is also seen as a push for long-term finance availability for highway developers.
The move to exempt critical roadmaking equipment from import duty and expected loan disbursement of Rs 20,000 crore by March next year by India Infrastructure Finance Company Ltd (IIFCL ) are strong indications of the government’s backing for the ambitious plan to construct 20km of highway per day.
IIFCL was set up to provide long-term financial assistance to infrastructure projects. Finance minister Pranab Mukherjee said, ‘‘The take-out financing scheme announced in the last Budget is expected to initially provide funding of about Rs 25,000 crore in the next three years.’’
The move to allow an extra Rs 20,000 in long-term infrastructure bonds under 80C from 2010 is also seen as a push for long-term finance availability for highway developers.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
