Tax-free infra bonds for railways & roads

Moving ahead with NDA Government´s focus on building infrastructure, Finance Minister Arun Jaitley in his budget speech announced introduction of tax-free infra bonds for railways and roads.´We have increased the budgetary allocation to roads & railways,´ said Jaitley. Jaitley also allocated Rs 25000 crore for Rural Infrastructure Development Fund. Allocation on infrastructure was upped by Rs 70,000 crore. Emphasizing the thrust need to encourage entrepreneurship and businesses in India, Jaitley in the budget speech said that the government will aim to make India a manufacturing hub with the ´Make in India´ programme. Jaitley said that he will be able to meet the stated 4.1% fiscal deficit target for the current fiscal year.