Budget 2013 live update: Rs 55 lakh crore for infrastructure

BANGALORE, INDIA:  Finance minister P Chidambaram has said that key to growth is to attract investments. "We will improve communications and remove distrust in mind of investors even on application tax."

Business in India must be seen as friendly and beneficial. Government allocates 1 trilion or Rs 55 lakh crore in infrastructure. Plan envisages private companies to share 47 pc of investment. Innovative methods to mobilise funds are being proposed like infrastructure debt funds. India Infrastructure Corporation Limited in partnership with ADB will extend credit policies. 

Banks must start tax free bonds to raise 50,000 crore. 

On bio-technology  front, government will set up Institute of biotechnology in Ranchi.