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Construction : Web Exclusive | January 2017 | Source : CW-India

Budget 2017 | Push for Make in India through outlay for industrial corridors

India’s plans to create mega industrial cities across the country equipped with production units, public utilities, residential areas, schools and hospitals are likely to get a big fiscal push in Budget 2017-18. According to reports, Finance minister Arun Jaitley will likely raise the outlay for industrial corridors substantially from Rs 1,448 crore in 2016-17, signalling the government’s intent to use these mega enclaves as one of the major vehicles to push the ‘Make in India’ initiative.
The country has notified five major industrial corridors – Delhi-Mumbai Industrial Corridor (DMIC), Amritsar Kolkata Industrial Corridor (AKIC), Chennai Bengaluru Industrial Corridor (CBIC), Visakhapatnam-Chennai Industrial Corridor (VCIC) and Bengaluru- Mumbai Economic Corridor (BMEC), spread across 15 states.
Further, the government also plans to set up a National Industrial Corridor Development Authority (NICDA) on the lines of the National Highway Authority of India (NHAI). NICDA will be headquartered in Pune and would serve as the nodal body to oversee and coordinate work related to the development of the industrial corridors with smart cities linked to transport connectivity, to drive India’s growth in manufacturing and urbanisation. The setting up of NICDA has already seen a delay of over two years, with the Centre announcing its inception in July 2014, with a corpus of Rs 100 crore. Bringing all the corridors under the ambit of an authority (NICDA) will provide more clarity to investors about India’s industrial corridor policy and enable better coordination with multilateral agencies like Japan International Cooperation Agency (JICA). NICDA is expected to channelise central as well as institutional funds while ensuring that the various corridors are properly planned and implemented keeping in view the broad national perspectives regarding industrial and city development.
In addition to new industrial cities, the project envisages development of infrastructure linkages like power plants, assured water supply, high capacity transportation and logistics facilities as well as softer interventions like skill development plan.
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