by Anushree Ghosh
Review & Analysis of 2019 Interim Finance Budget
Infrastructure is the backbone of a country’s economy – transportation, water system, electricity, health and education. All these are high investment systems and are significant for the development of the country. Investing in infrastructure is vital and it has a long-lasting effect on other sectors like banking and power. Owing to its importance, the interim finance budget by Finance Minister Piyush Goyal has many key points that can decide the fate of this country.
Here are the salient points:
Increased monetary allocation of Rs 6.602.86 for the aviation ministry to be sanctioned in the next fiscal year. Also, a large amount was assigned for the purchase of two new VVIP flights. In addition to this, Rs.1,014.09 has been allocated to UDAN (Ude Desk ka Aam Nagrik) scheme which is meant to increase regional connectivity. Goyal said that there are 100 functional airports in the country and assured that numerous job opportunities will be created, as the number of domestic passengers is increasing day by day.
With almost 27 km of highway built every day, India has achieved milestones in the roadways development sector. Despite roadways being loaded with many development projects, the sector was given relatively less priority amongst the other sectors. Budget 2019, emphasised on having electric mobility in the country in the next 10 years. PMGSY (Pradhan Mantri Gram Sadak Yojna) allocated Rs 19,000 crore in 2019-20
As published by Jagran Josh on 1st Feb, Goyal said
“New India will drive on Electric Vehicles with renewables becoming a major source of energy supply,”
While presenting the railway budget, Goyal stated that Indian Railways has “experienced the safest year in its history”. He suggested increasing the investment in the sector from Rs 1, 38,857.52 crore to Rs.1,58,658. No change was seen in the passenger fares ahead of the elections. ‘Vande Bharat Express’, India’s first locomotive-less train would is all set to run between Delhi and Varanasi.
The frontrunner programmes in the coastal areas will witness port development for making the import-export of cargo quick & efficient. The government also wants to initiate cargo movement to the North East by upgrading the means of transport via river Brahmaputra
Strengthened overall allocation to the Ministry of Health by Rs 7,589 crore. The Modi government’s main healthcare programme – the Pradhan Mantri Jan Arogya Yojana (PMJAY), also known as ‘Ayushman Bharat’ was allocated Rs 6,400 crore. Also, 22nd All Indian Institute of Medical Sciences (AIIMS) will be set up in Haryana.
Defence budget to cross Rs 3,00,000 crore and One Pension One Rank policy to get more push.