Arun Jaitley makes additional funding for three sectors

Posted By: IANS
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Jaitley makes additional fundings
New Delhi, July 18: Union Finance Minister Arun Jaitley Friday announced fresh budgetary support to three sectors in the Finance Bill 2014-15.

The additional funding is for schemes in the food processing, wind energy and health sectors.

Replying to the debate on the national budget in the Lok Sabha, Jaitley recommended that Rs.2,000 crore would be credited in National Bank for Agriculture and Rural Development (NABARD) for the benefit of agro-processing units.

"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," he said.

To incentivise the wind energy sector, the minister proposed to restore the accelerated depreciation scheme in the sector.

"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 finance minister also referred to the growing problem of drug addiction in the states bordering Pakistan, and proposed to make an initial contribution of Rs.50 crore to set up de-addiction centres, especially in Punjab, he added.


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