(The Gist of PIB) Transport sector gets enhanced Budget Allocation of Rs 83,000 crore [JULY-2019]

Transport sector gets enhanced Budget Allocation of Rs 83,000 crore

Transport sector has been allocated enhanced outlay of Rs 83,000 crore in the Union Budget. Budgetary allocation for the Ministry last year was Rs 78,626 crore.

Comprehensive restructuring of National Highway Programme will be carried out to ensure that the National Highway Grid of desirable length and capacity is created using financeable model.
After completing the Phase-1 of Bharatmala, states will be helped to develop State road networks in the Phase-2 of Bharatmala.
The Central Road and Infrastructure Cess on petrol and diesel has been raised by Re 1 per litre to give a boost to the development of Infrastructure.
Under Phase-II of the FAME Scheme, only advanced battery and registered e-vehicles will be incentivized. Phase II of FAME has an outlay of Rs10,000 crore for a period of 3 years, and has commenced from 1st April, 2019.
The Government has already moved GST council to lower the GST rate on electric vehicles from 12% to 5%.
To make electric vehicles affordable to consumers, the government will provide additional income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to purchase electric vehicles.
To further incentivise e-mobility, customs duty is being exempted on certain parts of electric vehicles.
Under the Jal Marg Vikas Project, two multi-modal terminals at Sahibganj and Haldia and a navigational lock and Farrakka would be completed this year.