English
New Delhi, Feb 1 (PTI) Infrastructure stocks rose by up
to 5.5 per cent today after Finance Minister Arun Jaitley
increased the budgetary allocation for the sector by Rs 1 lakh
crore to Rs 5.97 lakh crore for the 2018-19 fiscal.
Shares of Dilip Buildcon surged 5.54 per cent, GVK Power
& Infrastructure 4.87 per cent, GMR Infrastructure 4.60 per
cent, NCC 1.55 per cent and Hindustan Construction Company
0.51 per cent on BSE.
Describing infrastructure as a growth driver of the
economy, Finance Minister Arun Jaitley today increased the
budgetary allocation for the sector by Rs 1 lakh crore to Rs
5.97 lakh crore for the 2018-19 fiscal and said the country
needs Rs 50 lakh crore for infra spending.
The minister in his budget speech said India will need
massive investments in roads, air, rail and inland waterways
while hinting that the money would be raised through equity
from the market.
“Infrastructure is the growth driver of the economy. Our
country needs massive investment in access of Rs 50 lakh crore
in infrastructure to increase growth of GDP and integrate the
nation with a network of roads, airports, railways, inland
water and to provide good quality services to the people,” the
finance minister said.
This is published unedited from the PTI feed.
