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India : ARUN JAITLEY unveils latest budgetary support to THREE SECTORS

July 19, 2014

Union Finance Minister Arun Jaitley has revealed the latest budgetary support to three sectors in the Finance Bill 2014-15.

The extra financing is for schemes in sectors like food processing, wind energy and health.

It would be credited Rs.2,000 crore in National Bank for Agriculture and Rural Development (NABARD) for the welfare of agro-processing units.

Jaitley stated, In order to make affordable credit available to agro-processing units being designated as food parks, I decided to set up a special fund of Rs.2,000 crore in NABARD. In the budget, we have given incentives for wind energy and other renewable forces of energy. I have received more requests for concessions I will restore the accelerated depreciation and necessary amendments will be made in the Finance Bill.

The minister suggested to regenerate the accelerated depreciation scheme in the sector to incentivise the wind energy sector.

The finance minister has also proposed to make an initial contribution of Rs.50 crore to establish de-addiction centres, particularly in Punjab.

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Source: TendersInfo (India)

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