Mumbai, February 19: The transport sector is looking for a fillip in the Union Budget 2016. Nitin Gadkari, the Minister for Shipping, Highways and Road Transport, is hopeful that the government will increase allocation of funds towards the roads sector in the new budget.
“Funding is not a constraint as far as the roads sector is concerned. We are expecting about Rs 65,000 crore in the upcoming Budget for the sector, as against Rs 45,000 crore provided last year,” Gadkari said, during his speech at the Make in India Week, in Mumbai on Tuesday. (Also Read: Healthcare Budget 2016: Healthcare providers want 10-year tax holiday on new hospitals)
Concerns have been raised about the funding sector after the increase in stress on the asset books of the banks. Many of the companies which are into road building are quitting owing to fund constraints.
There’s one more innovative methods that on the cards. The ministry plans to introduce e-tolling across all the toll plazas of the country. “We have already fast-tracked the process of e-tolling system on toll plazas. E-tolling system on all the 360 toll plazas in the country will be operational by April this year,” Gadkari added.
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