IRF welcome budget allocations for road and infrastructure in the budget

Mr K.K.Kapila, Chairman, International Road Federation (IRF) has welcomed the allocation of Rs 37, 850 crore announced in the Union budget for the year 2014-15 to develop roads and highways via the National Highy Authority of India (NHAI) to ensure better connectivity.

We also welcome the move by the Finance Minister allocating Rs 11,635 crore to develop existing ports & harbours and Rs 14,389 crore for the Pradhan Mantri Gram Sadak Yojana as it will have a massive impact on rural development and connectivity.

"The road infrastructure sector was moving very slowly in past few years due to delay in decision making and disputes resulting in heavy loss to contractors in form of blocking of funds as well as paying interest on loans. The allocation of funds will help the road sector to grow faster and deliver projects on time." Said Mr K.K.Kapila, Chairman, International Road Federation (IRF) in a statement reacting to Union Budget proposals.

"The announcements in the budget of new road projects will give further boost to economy, generate employment and help country build better infrastructure" he added.

Source : Equity Bulls

Keywords