Public-private partnership encouraged in budget, says NITI Aayog CEO Amitabh Kant

Amitabh Kant, CEO of NITI Aayog said that the Union Budget 2020-21 focuses on increasing the contribution of the private sector in the growth of the economy by giving importance to public-private partnership (PPP) Model.

"The two big things in this budget are that PPP has been encouraged. It will increase the contribution of the private sector in the growth of the economy. Second, the focus is on technology, artificial intelligence, quantum computing, etc. These things will develop India," said Kant.

"The tax regime will make India the lowest tax regime in the world," he added.

In the Union Budget 2020-21, Finance Minister Nirmala Sitharaman has proposed five measures for optimisation of costs including setting up a large solar power capacity alongside the rail tracks, on the land owned by the Railways.

The other four measures are -- four station re-development projects and operation of 150 passenger trains would be done through the PPP model, more Tejas type trains will connect iconic tourist destinations, high-speed trains between Mumbai to Ahmedabad would be actively pursued and 148 km long Bengaluru Suburban transport project at a cost of Rs 18600 crore, would have fares on the metro model.