Budget: Infrastructure takes front seat in 5 years; Rail, Roads, Highways get boost, Civil Aviation grounded
Infrastructure sector, the backbone of the Indian economy, is eyeing a big Budget boost, after Covid lockdowns, labour migration, and slow order pace hurt the sector more than expected. The infra industry has taken a front seat, with government allocations increasing significantly in the past five years, thereby helping move India towards achieving its $5 trillion economy goal. The Railway budget increased from Rs 55,000 crore in 2017 to Rs 1.4 lakh crore in 2022. The budget allocated for Roads & Highways surged from Rs 64,900 crore in 2017 to Rs 1.99 lakh crore in 2022 and the civil aviation budget rose from Rs 2,702 crore in 2017 to Rs 10,667 crore in 2022.
Railway Budget to focus on infra modernisation
India has Asia’s largest rail network and modernising railways has been a primary focus of the government. In FY2020 the railway budget expenditure surpassed the allocated amount from Rs 72,216 crore to Rs 1.12 lakh crore.
