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| Arun Lakhani, CMD, Vishvaraj Infrastructure Ltd |
The Union budget 2016-17 is a step forward for the welfare of the people and growth in the country. For the infrastructure development, the government has announced fund allocation of at Rs 2.31 lakh crore that would aim to enhance the infrastructure base of the country. Guideline for renegotiation of PPP contracts is a long standing demand from international investors and will make the investment environment much more risk neutral.
It is a big step towards overseas funding comfort for PPP in infrastructure. A 228-percent higher grants to gram panchayats & urban local bodies in accordance with FFC recommendations will augment development process significantly in terms of providing basic facilities like clean healthy water, sanitation, and other basic amenities leading to smart towns of future. This budget restores balance in rural Bharat and India Inc. The approach of the Finance Minister is one of quantum jump rather than tinkering, which would accelerate the development process and put the Indian economy on a sustainable growth trajectory, while further expediting the ‘Make in India’ programme and ‘Swaach Bharat Mission’.
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