Budget 2018: ICRA expects increase in budgetary allocation for highways
For FY2019, Ministry of Road Transport and Highways is expected to allocate in the range of Rs 80,000-85,000 crore as against Rs 64,900 crore for FY2018
New Delhi: Allocation for highways sector in Union Budget 2018 is likely to be higher for FY19 in the range of Rs 80,000 to Rs 85,000 given the government's plans to build more roads, rating agency ICRA said today.In order to support the new programme, allocation for FY2019 is expected to be in the range of Rs 80,000-85,000 crore to Ministry of Road Transport and Highways as against Rs 64,900 crore for FY2018," ICRA said on Monday.
It said the infrastructure sector expects continued thrust from government towards revival of investment cycle in the form of further increase in budgetary allocations towards infrastructure sector with focus on roads, railways and urban infrastructure.
Dedicated allocations for specified large infrastructure projects announced such as Bullet trains, Bharatmala, Sagarmala, Smart Cities, inland waterways development, etc, can also be made to expedite these projects.
"Further, NHAI market borrowings (IEBR) are estimated to be in the range of Rs 60,000-65,000 crore to support the new programme," it said.
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All medical expenses reimbursed or paid by the employer on behalf of the employee is taxable
The Budget for FY19 definitely does not smell like a pre-election policy document and instead reveals a commitment to being on the Fiscal Responsibility and Budget Management (FRBM) track.
There is no doubt that the path to economic growth will be paved with the investment in infrastructure