New Delhi, Feb 1 - Finance Minister Arun Jaitley on Thursday proposed to hike the allocation made on infrastructure for 2018-19 by over 20% to Rs 5.97 lakh crore.
"In order to create employment and aid growth, government's estimated budgetary and extra budgetary expenditure on infrastructure for 2018-19 is being increased to Rs 5.97 lakh crore against estimated expenditure of Rs 4.94 lakh crore in 2017-18," Jaitley said in his Budget speech.
According to Jaitley, "infrastructure is the growth driver of economy" and that the country required massive investments in excess of Rs 50 lakh crore in infrastructure to increase GDP growth.
"We have made an all-time high allocation to rail and road sectors. We are committed to further enhance public investment. Provision of key linkages like coal for power, power for railways and railway rakes for coal have been rationalized and made very efficient," Jaitley said.