00:00In order to promote environmentally sustainable passenger systems, we will develop seven high-speed rail corridors between cities as growth connectors, namely Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Seliguri.
00:30Financial sector, the Indian banking sector today is characterized by strong balance sheet, historic highs in profitability, improved asset quality and coverage exceeding 98% of villages in the country.
00:57At this juncture, we are well placed to futuristically evaluate the measures needed to continue on the path of reform-led growth of this sector.
01:07Infrastructure
01:09During this past decade, our government has undertaken several initiatives for large-scale enhancement of public infrastructure,
01:19including through new financing instruments such as Infrastructure Investment Trust, INWITS, and Real Estate Investment Trust, RAITS, and institutions like NIIF and NABFID.
01:35We shall continue to focus on developing infrastructure in cities with over 5 lakh population, that is tier 2, tier 3 cities, which have expanded to become growth centers.
01:49Public capital expenditure has increased manifold from 2 lakh crores in 2014-15 to an allocation of 11.2 lakh crores in BE 2526.
02:05In this coming year, that is financial year, I propose to increase it to 12.2 lakh crores to continue the momentum.
02:21To strengthen the confidence of private developers regarding risks during infrastructure development and construction phase,
02:31I propose to set up an infrastructure risk guarantee fund to provide prudentially calibrated partial credit guarantee to lenders.
02:42Over the years, rights have emerged as a successful instrument for asset monetization.
02:53I propose to accelerate recycling of significant real estate assets of the CPSCs through the setting up of dedicated rights.
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