Yes and no. Allocations for new projects have diminished in relative importance, but policy pronouncements continue to have an impact.
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/budget-relevant-infrastructure
[2] http://admin.indiaenvironmentportal.org.in/category/newspaper/business-standard
[3] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economy
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economic-development
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/india