New Delhi, July 5: The Central government will spend Rs 100 lakh crore on infrastructure upgradation over the next five years, said Finance Minister Nirmala Sitharaman while presenting Union Budget 2019-20 in the Lok Sabha on Friday.
"Rs 100 lakh crore to be invested in infrastructure sector over next five years," said Sitharaman, adding that an expert committee would be set up to recommend structure and flow of funds through development finance institutions. Union Budget 2019 Speech by Nirmala Sitharaman: Increase In Petrol, Diesel Prices, No Change in Income Tax Slabs Among Highlights of India's First Woman Full Time FM's Maiden Budget.
FM Nirmala Sitharaman: I propose to increase special additional excise duty and road and infrastructure cess each one by 1 rupee a litre on petrol and diesel pic.twitter.com/y9DoC5IGIX
— ANI (@ANI) July 5, 2019
Sitharaman also said that the Central government has set to generate Rs 1.05 lakh crore through disinvestment during the current financial year - 2019-20. She also said that the strategic disinvestment of Air India (AI) will be reinitiated, while presenting the Union Budget 2019-20 in the Lok Sabha on Friday.
"Strategic disinvestment of select Central Public Sector Enterprises (CPSEs) will continue to be a priority. Strategic disinvestment of Air India will re-initiate. 1 lakh 5000 rupees is disinvestment target for 2019-20," she said.
The Finance Minister also said the government is considering to go below 51 per cent to an appropriate level of an ownership stake in non-financial public sector undertakings on a case by case basis.