#Budget2017: Arun Jaitley Banks On Infrastructure To Drive Growth

From the outset, one could figure Finance Minister Arun Jaitley's budget speech would focus on mitigating the damage caused to the Indian economy by the Central government's demonestisation move with sweet words. Starting his speech with "spring is a season of optimism", the FM took to poetry a couple of times to send across the message that the short-term pains caused by demonetisation would pave way for long-term gains. Terming the "bold" move as a "tectonic policy initiative" and shrugging its impact on the economy as "transient", the FM listed the many benefits the economy will reap in future. Amid all this, not many would claim that they had much to gain from the Budget. India's infrastructure sector happens to be an exception though.

"My overall approach, while preparing this Budget, has been to spend more in rural areas, infrastructure and poverty alleviation and yet maintain the best standards of fiscal prudence. I have also kept in mind the need to continue with economic reforms, promote higher investments and accelerate growth," Jaitley said in his Speech.

While a total of Rs 3,96,135 crore has been allocated for infrastructure development in 2017-18, Jaitley announced a total expenditure of railways at Rs 1,31,000 crore. It is worth mentioning here that the Budget 2017-18 has merged the Rail Budget with the General Budget and has replaced the Plan and non-Plan expenditure classification with capital and revenue model.

Here are some announcements that would improve infrastructure and boost investments in the sector: