HM inaugurates 'Million Minds Tech Park' and 'GREMI City Campus' in Ahmedabad (See 'Corp Brief') Amit Shah inaugurates State-of-the-Art Milk Processing Plant of Madhur Dairy (See 'Corp Brief') Experts Discuss Yoga for Youth and Mental Wellness in Digital Era (See 'Corp Brief') Misc - RBI circular dated June 07, 2019 on 'Prudential Framework for Resolution of Stressed Assets' was policy decision taken by expert body in larger public interest: HC (See 'Legal Desk') GeM continues to support Digital Public Procurement System (See 'Corp Brief') Ministry of Education reviews strategy for mainstreaming Out-of-School children (See 'Corp Brief') Misc - NBFC cannot reposses financed vehicle through coercive means, without adherence to due process of law and in violation of RBI recovery guidelines: HC (See 'Legal Desk') Govt extends timeline for Global Tender for REPM scheme (See 'Corp Brief') Indian Pharmacopoeia Commission organizes Scientific Conclave (See 'Corp Brief') A&C - Later attempt by insurer to artificially split same claim into separate components of admitted and denied liability does not render unpaid component non-arbitrable: HC (See 'Legal Desk') Scindia reviews Key Development Projects during Sikkim Visit (See 'Corp Brief') Union Minister of State for Coal & Mines reviews CMPDIL (See 'Corp Brief') IBC - If transaction was builder-linked contractual arrangement rather than pure financial debt default, Section 7 IBC proceedings cannot be used in parallel with DRT recovery proceedings: SC (See 'Legal Desk') Commerce Minister chairs meet on promoting fisheries exports (See 'Corp Brief') Govt reviews progress of micro Food Processing Enterprises in Leh (See 'Corp Brief') FERA - Foreign judgment is unenforceable in India as it fell within exceptions u/s 13 CPC: SC (See 'Legal Desk') Railways carries 170% more Cement in last 4 Months (See 'Corp Brief') A&C - Once seat of arbitration is expressly designated by agreement of parties, that seat becomes juridical home of arbitration and operates akin to exclusive jurisdiction clause: SC (See 'Legal Desk') Self-reliance and jointness must for strategic autonomy & future-ready force: RM (See 'Corp Brief') Company Law - For purpose of maintainability of petitions u/s 397 & 398, expression ‘member' is not to be confined only to formal entry in register of members u/s 41(2): SC (See 'Legal Desk') NCB launches 6-Month Online Certification Program on Advanced Concrete Technology (See 'Corp Brief') IBC - While subsidiary companies are separate legal entities, corporate veil may be lifted if associated companies are inextricably connected so as to form one concern: SC (See 'Legal Desk') Supreme Court lays down scenarios for lifting of Doctrine of Corporate Veil (See 'CORP EINSICHTf')

Print

Budget 21 provided capital outlay of Rs 5.54 lakh crore

Published: Dec 07, 2021

By TIOLCorplaws News Service

NEW DELHI, DEC 07, 2021: TO initiate infrastructure development to boost the economy after COVID-19 pandemic, Union Budget 2021-22 has provided a capital outlay of Rs. 5.54 lakh crore, an increase of 34.5% over Budget Estimate of FY 2020-21. This was stated by Union Minister of State for Finance, Pankaj Chaudhary, in a written reply to a question in Lok Sabha yesterday.

The Minister stated that the Government has also made provision of more than Rs 2 lakh crore for States & Autonomous Bodies towards their Capital Expenditure. National Monetization Pipeline was also prepared to unlock the value of investments in public sector assets by tapping private capital and efficiencies for delivering infrastructure services. These proceeds are envisaged to augment existing/ create Greenfield infrastructure. Additionally, Central Ministries/Departments have been suggested to expedite infrastructure investment by front-loading capital expenditure.

Giving more details, the Minister said that the CCEA in its meetings held on 21.10.2021 approved the proposal for development of ‘PM GatiShakti National Master Plan (NMP)' for providing multimodal connectivity infrastructure to various Economic Zones. It aims to depict various economic zones and the infrastructure linkages to holistically integrate all the multimodal connectivity projects, remove missing gaps for seamless movement of people, goods & services, minimize disruptions, improve logistics efficiency. The sectors intended to be included in PM GatiShakti NMP are Transport & Logistics - Roads, Rail, DFC, Airports, Inland Waterways, Ports, Logistics infrastructure, Bulk material transportation, Urban Public Transport; Energy – Electricity Transmission with specific reference to evacuation of renewable energy projects, National Gas Grid; Communication – OFC network, Telecommunication Towers; Commercial infrastructure - Common infrastructure for industrial parks with industrial activities like, Food parks/Textile parks, SEZs, Electronics Manufacturing Clusters, Fishing Clusters/Harbours, Defence Corridors/Industrial Corridors, Pharma & Medical Device Clusters.

In response to the source of funding for the aforesaid project, the Minister stated that there is no financial implication for multimodal connectivity infrastructure to the economic zones under the PM GatiShakti NMP as the concerned line Ministries/Departments will seek funding of their respective infrastructure projects serving the economic zones as per procedures laid under their respective schemes/programmes.

Giving more details, the Minister stated that the National Infrastructure Pipeline (NIP) was launched with projected infrastructure investment of around Rs. 111 lakh crore during FY 2020-2025 to provide world-class infrastructure across the country, and improve the quality of life for all citizens. NIP was launched with 6,835 projects, which has expanded to over 9,000 projects covering 34 sub-sectors. NIP is a first-of-its-kind, whole-of-government exercise and covers all infrastructure sub-sectors, including MSMEs working in infrastructure sector, as mentioned in Harmonized Master List of Infrastructure Sub-sectors notified by Department of Economic Affairs (DEA).

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.