BUDGET 2018: Roads see 20% Jump in Allocation
Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk

BUDGET 2018: Roads see 20% Jump in Allocation

FM Arun Jaitley said the government is confident of completing construction of highways of over 9000 km this year.
Finance Minister (FM) Arun Jaitley, in his Budget speech on Thursday raised the allocation towards the construction of roads and highways from budgetary and extra-budgetary resources to Rs 5.97 lakh crore from an earlier estimate of Rs 4.94 lakh crore for the fiscal year 2017-18.

Industry players welcomed the move. Satish Parakh, MD & CEO of Ashoka Buildcon, said, "This jump of 20% in expenditure on roads will give road infrastructure companies a renewed boost in business opportunities. This will also create a lot of opportunity for job creation. Other tax benefits like 25% tax for businesses having turnover of less than Rs 250 crore will help our subcontractors and they can be more competitive." Read More

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