Manish Aggarwal, Partner and Head of Energy and Natural Resources, KPMG in India

ON INFRASTRUCTURE SECTOR Budget 2017 augments the already established mode of using government budgetary spend to boost infrastructure in an overall tepid private sector investment sentiment. Integrated Transportation focus including railways, metros, multi-modal transport, highways is transformational and has the potential to launch economic growth into the next orbit. Renewed volatility in oil markets enunciated a response by way of creation of integrated oil majors which would aim at creating strategic oil ownership. In parallel, budget focused to enhance renewable energy capacity by launching another 20 GW solar mission. Signals were also made to revive PPPs by introducing amendments to arbitration & conciliation act to address disputes and launching a fresh PPP pipeline in airports and railways.