FM Pranab Mukharjee on his way to present the union budget. Pic courtesy: PIB
The government in its union budget 2010-11 has allocated Rs1.73 lakh crore for infrastructure besides increasing road transport allocation by 13% to Rs19,894 crore. The finance minister Pranab Mukharjee while presenting the budget in parliament said his first challenge would be to quickly revert to higher GDP growth path of 9% and then crossing the double digit growth.
The government has given much emphasize on the rural infrastructure by allocating Rs25,000 crore. Its Bharat Nirman plan will get Rs48,000 crore in this year’s budget. It said Rajiv Awas Yojana will get Rs1,270 core in FY11 besides upping the allocation for Indira Awas Yojana by Rs10,000 crore. The urban development allocation has also been increased by 75% to Rs5400 crore. The government will make IIFCL disbursement at Rs9,000 crore by March 2010.
Mr Mukharjee said that a National clean energy fund will be set up whereas the planned outlay for renewable energy ministry has been upped by 61%. The finance minister has also promised to double the allocation for power at Rs5,100 crore.
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