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India Budget 2016/17 – ‘Transform India’

03rd Mar 2016 Economy, Kryton Buildmat Co. Pvt. Ltd. by Anandita Kakkar

As the Indian government rolled out the Union Budget for 2016 – 2017, the Indian Economy was said to be on track, and a bright spot in the slowing global economy*. The main focus of the budget was to ‘Transform India’ over the next decade. And this vision of transformation was based on a few strong pillars:

Seeing that each of these pillars is interconnected, by adding revenue to each of these sectors separately the government has made sure that all sectors of the country come together to progress and grow in order to boost the economy.

The budget allocated more than Rs. 35 crore towards Agriculture and Farmers’, road connectivity is set to get a boost of nearly 2.20 crore for both national and state highway. Nearly 85% of stalled road projects are set to be put back on track.

Airports and airstrips across the country are also set to get a much-needed boost of energy. Seeing water as scarce and optimum water utilisation as one of the biggest hurdles towards agricultural development, the government is foreseeing big investment with irrigation sectors.

These and many such other steps are set to create an Economy that will grow and bloom not just in urban clusters or pockets, but even in the smaller cities and rural regions of India.

One of the highlights within transforming India is to connect the cities and rural areas of India. By rail, by air or by road, the government has seen that the only way to grow an economy as vast and as scattered as India is to connect it. By making sure that the farmer, the food producer and the manufacturer are easily connected to the market the government is ensuring that there is no need gap and no wastage of resources natural, financial and human. This will boost not only domestic competitiveness but also international competitiveness insofar is it will attract international business.

For more information on the budget, click here.

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