00:00Infrastructure. During this past decade, our government has undertaken several initiatives for large-scale enhancement of public infrastructure, including through new financing instruments such as Infrastructure Investment Trust, INWITS, and Real Estate Investment Trust, RAITS, and institutions like NIIF and NABFID.
00:27We shall continue to focus on developing infrastructure in cities with over 5 lakh population, i.e. Tier 2, Tier 3 cities, which have expanded to become growth centres.
00:41Public capital expenditure has increased manifold from 2 lakh crore in 2014-15 to an allocation of 11.2 lakh crore in BE 25-26.
00:57In this coming year, that is, financial year 20-26-27, I propose to increase it to 12.2 lakh crores to continue the momentum.
01:10To strengthen the confidence of private developers regarding risks during infrastructure development and construction phase, I propose to set up an infrastructure risk guarantee fund
01:28to provide prudentially calibrated partial credit guarantee to lenders.
01:37Over the years, RAITS have emerged as a successful instrument for asset monetization.
01:45I propose to accelerate recycling of significant real estate assets of the CPSCs through the setting up of dedicated rights.
01:55In order to promote environmentally sustainable passenger systems, we will develop seven high-speed rail corridors between cities as growth connectors.
02:09Namely, Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Seliguri.
02:24The Indian banking sector today is characterized by strong balance sheet, historic highs in profitability, improved asset quality and coverage exceeding 98% of villages in the country.
02:53At this juncture, we are well placed to futuristically evaluate the measures needed to continue on the path of reform-led growth of this sector.
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