Current Affairs-Indian Government's General Budget 2014-15-Institution for Mainstreaming PPPs will be Set-Up

Institution for Mainstreaming PPPs will be Set-Up 

Shipping, Inland Navigation, Airports and Roads Sector Given Priority

The Union Finance Minister Shri Arun Jaitley, while presenting the General Budget 2014-15 in Parliament today, has proposed to set-up an institution to provide support to mainstreaming PPPs called 3P India with a sum of Rs. 500 crore. The institution will facilitate nuanced and sophisticated models of contracting and developing quick dispute redressal mechanism of PPPs. 

Shipping

The Finance Minister announced sixteen new port projects to be awarded this year with a focus on port connectivity. An amount of Rs. 11,635 crore will be allocated for the development of Outer Harbour Project in Tuticorin for phase I. SEZs will also be developed in Kandla and JNPT. A comprehensive policy will also be announced to promote Indian ship building industry in the current financial year.

Inland Navigation

            The Finance Minister Shri Jaitley also announced a project on the river Ganga called ‘Jal Marg Vikas’ (National Waterways-I) to be developed between Allahabad and Haldia to cover a distance of 1620 kms, which will be completed over a period of six years at an estimated cost of Rs. 4,200 crore.

New Airports

            The Finance Minister has announced a scheme for development of new airports in Tier-I and Tier-II Cities to be launched for implementation through Airport Authority of India or PPPs.

Roads

            The Finance Minister Shri Jaitley announced an amount of Rs. 37,880 crores for National Highways Authority of India and State Roads, out of which Rs. 3,000 crores will be spent in the North East. He announced that during current financial year, a target of construction of 8500 kms of National Highways will be achieved. He also announced initiation of work on select expressways in parallel to the development of industrial corridors.