The announcement of the proposed Union Budget 2018 with an agenda to develop, educate and sanitize rural India is reasonably balanced for an inclusive growth of the Indian economy. The government has taken note of the signs of distress in the rural economy and the budget has provided some decent measures to address some pressing concerns. Initiatives announced in the budget bought many cheers to infrastructure, healthcare, education and agriculture sectors.
As Budget 2018 has identified infrastructure as one of the key drivers of the economy, lot of initiatives has been announced for the betterment of the sector. The government has taken the onus of constructing 35,000 kms of roads under the Bharatmala Pariyojana project for which the Budget allocated is Rs 5.35 lakh crore which aims to provide seamless connectivity in backward and border areas. The allocation of Rs 11,000 crore for Mumbai rail network will definitely create a positive impact on the infrastructure sector. The announcement of constructing 9,000 km national highways will create job opportunities.
Budget is also strengthening the railway network and enhancing railways’ carrying capacity.
The Capex for Railways pegged at Rs 1,48,528 crore for FY2018-19, will not only boost the transport system but also create a huge opportunity for ancillary industries. UDAAN initiative is also set to escalate the airways sector and provide lot of opportunities for companies in the infrastructure space.
Urbanization being on the priority, various affordable housing schemes and government’s investment of 2.04 lakh crore for building 100 Smart Cities with state-of-the-art amenities will further enhance the development in infrastructure sector.
Overall this is a growth budget with high emphasis on infrastructure, health, education and agriculture sector.