Energy

Key Announcements

Infrastructure

• National Infrastructure Pipeline of INR 103 trillion launched on 31 December 2019, consisting of 6,500+ projects across sectors viz housing, safe drinking water, access to clean and affordable energy, healthcare for all, modern railway stations, irrigation projects
• Development of five new smart cities under public private partnership
• Accelerated development of highways to be undertaken including development of access control highways, economic corridors, coastal and land port roads, and strategic highways
• Considering of listing at least one major seaport on stock exchange
• Boost to inland waterways by promoting economic activity alongside river- banks called as Arth Ganga
• To widen the Udaan scheme by developing 100 airports by 2024
• Policy to be announced for development of data centre parks by private sector
• National Logistics Policy to create a single window e-logistics market, generate employment, and make MSMEs competitive
• Proposal to create additional warehouses per warehouse development and regulatory authority

Direct tax

• Proposal to exempt income of eligible sovereign wealth funds, in the nature of dividend, interest, and long-term capital gains, arising from debt or equity investments in a company engaged in developing, and/or maintaining and operating an infrastructure facility before 31 March 2024 and with a minimum lock in period of 3 years eligibility criteria for such funds prescribed
• Proposal to extend tax pass through status to private unlisted Infrastructure Investment Trust (InvIT) as well; aligns with latest change in the Securities and Exchange Board of India regulations

Indirect tax

• Blanket exemption on import of specified goods for construction of roads withdrawn; these goods to now attract applicable Basic Custom Duty (BCD)

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