For the purpose of income generation and infrastructure augmentation of the country, Finance Minister Nirmala Sitharaman announced an expenditure of 103 Lakh Crore in INR during the 2020 Budget on February, 1. Highway constructions will become faster paced and the government is soon to announce a rigid policy on logistics regarding this expenditure.
The budget for infrastructure growth comprises of up to 6,500 projects distributed among numerous sectors. It includes affordable and clean energy, education institutes, fresh water supply networks, housing & infrastructure, irrigation, warehousing and logistics, airports, railway and metro transportations and railway stations. Moreover, the Finance Minister also expressed about the national Immunisation Programme (NIP) which
plans to improve the ease of living of the population. About the announced budget, Sitharaman expressed to media that there is a huge opportunity of employment for the youth that currently pervades India. Majority of jobs are there in the sectors of maintenance and infrastructure for operational requirements and in the construction sector as well.
The Finance Minister said that employment of the youth in the startup ecosystem of the country is the need of the generation. She elaborated the hand in hand development of ease of living and infrastructure in the country. The NIP is envisioned at the improvement of the health conditions around the country and at the same time, the amount that is to be spent on infrastructure development will provide employment to the youth of the country. All the two processes will go simultaneously. A 9,000 kms of economic corridor and 2,500 kms of controlled highways will be built under the 2020 Budget expenses.
Sitharaman was shrewd at the detection that all the policies and announcements that have been made under a singular cost head this year were announced separately by earlier governments in different budgets. She expressed that all those existing projects and new projects comprises the 2020 Budget. The Finance Minister also expressed that start-ups will be incorporated in the public sector holdings to ensure economic stability and growth of businesses. However, the process for the whole startup programme was not disclosed by her on the Budget day. During the announcements, it was also mentioned that to grow competitiveness in the MSME sector, a market with a singular window for e-logistics will be developed under the National Logistics Policy.