23% decline in budgetary allocation for infrastructure

budget

Interim budget was presented in Parliament on February 01, and it was seen that there is a decline in the amount allocated for infrastructure. For the financial year 2019-20, the government has allocated Rs 4.56 lakh crore for infrastructure, which was Rs 5.97 lakh crore in the financial year 2018-19.

“We are poised to become a $5-trillion economy in the next five years and aspire to become a $10-trillion economy in the next 8 years,” Finance Minister Piyush Goyal had said while presenting the interim budget.

The aviation sector saw a decline of 54% with Rs 4,500 crore allocated this year as compared to Rs. 9,700 crore allocated in the revised budget estimate in the last financial year.

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The shipping ministry also saw a decline in terms of budgetary allocation. Compared to Rs. 1,938.76 allocated in the previous financial year, it has been allocated Rs. 1,902.56 crore in the financial year 2019-20.

However, railways witnessed an increase in its budgetary allocation. It has been allocated Rs. 66,768.67 crore which is more than Rs 55,135.00 crore allocated in the previous financial year.

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