UNION BUDGET 2019-20
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Union Budget 2019-20: Budget Speech by Union Finance Minister Nirmala Sitharaman
12:45 pm: 100 lakh crore rupees to be invested in infrastructure sector over next five years, Expert Committee to be set up to recommend structure and flow of funds through development finance institutions – says Finance Minister Nirmala Sitharaman
12:23 pm: Massive programme of railway station modernization to be launched this year – says Finance Minister Nirmala Sitharaman
12:15 pm: National Research Foundation to be set up to strengthen overall research ecosystem in the country; funds available under all Ministries to be integrated with NRF – says FM
12:14 pm: #Budget2019 proposes to establish a National Research Foundation to fund, to coordinate and to promote research in the country.
12:11 pm: Railways to be encouraged to invest more in suburban railways through SPV structures such as Rapid Regional Transport System; more PPP initiatives to be encouraged in rail sector – says FM
12:09 pm: “Pradhan Mantri Gram Sadak Yojana” – Phase 3 envisaged to upgrade 1.25 lakh km of road length at an estimated cost of 80,250 crore rupees – says Union Finance Minister Nirmala Sitharaman.
11:58 am: Union FM Nirmala Sitharaman says, All-weather road connectivity provided to more than 97% of eligible and feasible habitations, made possible by a high pace of road construction.
11:55 am: Railway infrastructure will need an investment of Rs 50 lakh crore between 2018 and 2030. Since the expenditure is huge per annum, it could decades to complete the projects, it’s necessary to privatise: FM
11:50 am: “A Public-Private partnership will usher the new dawn of Indian railway. A PPP will make services better and faster”, says Union FM Nirmala Sitharaman.
11:48 am: Further opening up of FDI in aviation, media, animation AVGC and insurance to be examined, in consultation with stakeholders; 100% FDI to be permitted for insurance intermediaries, says Union FM Nirmala Sitharaman.
11:44 am: Union FM Nirmala Sitharaman says, Annual Global Investors’ Meet to be organized in India, using NIIF as the anchor to get key sets of global players to come and invest in India.
11:42 am: Union FM Nirmala Sitharaman says, Further opening up of FDI in aviation, media, animation AVGC and insurance to be examined, in consultation with stakeholders; 100% FDI to be permitted for insurance intermediaries.
11:40 am: Union FM Nirmala Sitharaman says, The government has given a massive push to all forms of physical connectivity via :-
3. Dedicated freight corridors
6. Jal Marg vikas
7. UDAN schemes
11:36 am: Credit Guarantee Enhancement Corporation will be set up in 2019-20, action plan to deepen markets for long-term bonds with specific focus on infra sector to be put in place – says FM
11:34 am: FAME II scheme aims to encourage faster adoption of electric vehicles by right incentives and charging infra – says FM
11:29 am: Schemes such as BharatMala, Sagarmala and UDAN are bridging rural urban divide and improving our transport infrastructure – Says FM
11:25 am: Railway infra would need an investment of 50 lakh crores between 2018 and 2030; PPP to be used to unleash faster development and delivery of passenger freight services – Says FM
11:22 am: Government envisions using rivers for cargo transportation, which will also decongest roads and railways – Says FM
11:20 am: India’s first indigenous payment ecosystem for transport based on National Common Mobility Card was launched PM in March 2019, enabling people to pay multiple types of transport charges – Says FM
11:18 am: 657 km of metro rail network has become operational in the country – Says FM
11:16 am: Schemes such as Bharat Mala, Sagarmala and UDAN are bridging rural urban divide and improving our transport infrastructure – Says FM
11:10 am: The Indian economy will grow to become a 3 trillion dollar economy this year itself – FM
11:06 am: Finance Minister Nirmala Sitharaman says,“From 1.85 trillion dollars in 2014, the economy has reached 2.7 trillion US dollars; we can very well reach 5 trillion dollars in the next few years.”
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