New Delhi, Feb 1 (PTI) Global road safety body IRF on Tuesday welcomed the Budget and said there was a need to give impetus to the infrastructure sector in view of its capital-intensive nature.
During her Budget Speech in Parliament, Finance Minister Nirmala Sitharaman made various infrastructure sector-related announcements, including expanding the network of highways by 25,000 km in 2022-23 and mobilising Rs 20,000 crore through innovative ways of financing to complement the public resources.
The International Road Federation (IRF) welcomes the stepped-up investment on highways and infrastructure projects in the Union Budget for 2022-23, it said in a statement.
“The government has emphasised on providing a massive push to all kinds of mobile connectivity by taking forward programmes across various key sub-sectors, such as roads, rail, inland waterways and air connectivity.
“There was a dire need to give impetus to the infrastructure sector in view of its capital-intensive nature and a long-gestation period for infrastructure projects,” IRF President Emeritus K K Kapila said.
Kapila, who is also the former co-chairman of industry body FICCI’s Committee on Infrastructure, said the augmented budgetary allocation Rs 20,000 crore for the expansion of 25,000 km of national highways would ensure time-bound creation of world-class infrastructure and propel India’s overall development. PTI ABI HRS hrs
