FinMin nod for tax-free bonds by Rlys, highways

Finance Minister Arun Jaitley today said the proposal to allow railways and highways to issue tax-free bonds has been cleared, and the government is committed to pushing the land acquisition bill to promote growth and generate jobs.
"I today cleared a proposal for both (highways and railways) these sectors to have a large investment by way of tax-free bonds," he said while speaking at a book launch function.
He, however, did not disclose details about the bonds.
The Minister had announced a series of steps in his budget speech to boost investment in infrastructure.
To a question related to land bill, Jaitley said the government has majority in the Lok Sabha as well as in both houses taken together.

"...And therefore we are just going straight constitutional way when there is a conflict over particular law, how is that is to be passed and we firmly believe it's a law which is going to help India and therefore, those changes are required," he said.

The passage of the bill, he said, was important for creation of rural infrastructure, like irrigation and roads.
He added that the government is committed to a "particular roadmap" and "just because somebody says I will block this reform.... I have said it repeatedly, let this be parliamentary struggle between reform and obstructionism".
Jaitley also stressed that the low phase in economy over the last few years "is over" and the NDA government has taken steps to boost investments in various sectors, like insurance, defence, coal and mines.

"...For country like India, which is currently targeting about 8 per cent growth and eventually targeting even higher growth rate, in this renewed environment, I think probably the roadmap (laid by the government) does indicate that we are going to do much better than what we had in previous year," the Minister said.