Budget 2020: Govt allocates Rs 1.7 lakh crore for transport sector

Finance Minister Nirmala Sitharaman on Saturday announced a slew of measures to boost India's infrastructure sector, including setting up 'Investment Clearance Cell' portal, Rs 1.7 lakh crore for transport sector.

Tabling the Modi 2.0 government's second budget in Parliament, Sitharaman said that Investment Clearance Cell will be set up through a portal, which will provide end-to-end facilitation, support and information on land banks.

FM announces Rs 1.7 lakh crore for developing infrastructure for transport. She also proposed Rs 27,300 crore for development of industry and commerce.

She said that Delhi-Mumbai expressway and two other projects will be completed by 2023. She also mentioned that government has taken measures to accelerate the development of highways.

FM Sitharaman also said that 12 lots of highway bundles to be monetised by 2024, while a National logistics policy will be announced soon.

In a bid to achieve higher export credit, a new scheme being launched which provides higher insurance cover, reduced premium for small exporters and simplified procedure for claim settlements, she said.

By Chitranjan Kumar

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