SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 01 Mar, 2016  

budget-indiaTHMB.jpeg Budget 2016-17: Govt to develop ports and airports

   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
SME Times News Bureau | 01 Mar, 2016
The central government on Monday proposed to develop port and airport infrastructure to accelerate economic activity in the country.

Finance Minister Arun Jaitley proposed to allocate financial resources for development of infrastructure sectors like ports and airports in Union Budget 2016-17.

Jaitley presented the budget in parliament on MOnday.

"In 2015, India's major ports have handled the highest ever quality of cargo. We have also added the highest ever capacity in major ports. We have started a series of measures for modernising the ports and increasing their efficiency," Jaitley elaborated.

"The Sagarmala project has already been rolled out. We are planning to develop new greenfield ports both in the eastern and western coasts of the country."

According to the minister, the work on the national waterways is being expedited.

"Rs.800 crore has been provided for these initiatives," the minister told the Lok Sabha.

In the civil aviation sector, the minister disclosed that the government is in the process to draw up an action plan for revival of unserved and underserved airports.

"There are about 160 airports and air strips with state governments which can be revived at an indicative cost of Rs.50 crore to Rs.100 crore each," the minister stated.

"We will partner with the state governments to develop some of these airports for regional connectivity."

Similarly, the minister said that 10 out of the 25 non-functional air strips with the Airport Authority of India (AAI) will be developed.

Apart from the aviation and shipping sectors, the Union Budget proposed to allocate capital expenditure of Rs.218,000 crore for rural roads, highways and railways.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter