‘Tax non compliant is impediment on country’s development’
Our Correspondent / New Delhi
Union Finance Minister Arun Jaitley today said that 50 new airports would come up under Udan scheme for regional connectivity in the country.
He said that mega investments needed for modernisation of railways, the Finance minister also said 90 per cent of international trade is coming through sea route, hence sea port development is another key area for infrastructure growth. He said encouraging private sector investment in 205 minor ports in the country has enhanced their capabilities.
Addressing a Defence Estate function in New Delhi, Mr Jaitley said, India needs to upgrade its infrastructure in coming two decades to become a developed economy.
He said no one can expect infrastructure to come out of thin air. He said the users have to pay for better infrastructure. Saying tax non compliant is impediment on country’s development, the Finance minister stressed that government is making more efforts to make system more compliant.
Mr Jaitley said the country has not seen for ages the double digit inflation and present government have been able to keep Current Account deficit and Fiscal deficit under control. Saying investment in infrastructure is essential for growth, Mr Jaitley said adequate infrastructure is needed for inclusive growth.
He said 60 lakh crore rupees have been spent on infrastructure in last decades and the sector needs another 50 lakh crore rupees in next five years. Mr Jaitley said highway creation is one of the top infrastructure priorities of the government. He said the government is in the process of awarding 10,000 kilo metre of national highways every year.