Tasmanian Liberal Premier Will Hodgman has welcomed the federal budget as one that can deliver the island state the infrastructure it needs.

The budget, delivered on Tuesday night, pledged $210 million towards roads, including $130 million for a 'corridor' between Hobart and the town of Sorell to the east.

Another $35 million was inked for an urban congestion fund.

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"The Tasmanian Government welcomes key investments ... which will help build the infrastructure our state needs for the future, and grow our economy," Mr Hodgman said in a statement.

Aside from roads, Mr Hodgman praised the $68 million investment in the Tasmanian Freight Rail Revitalisation Program, saying it would help get the state's world-class produce to market.

The commonwealth government's personal income tax cuts were also warmly received.

"(They) will put downward pressure on the cost of living and have a positive impact on around 200,000 Tasmanians," Mr Hodgman said.

"For only the fifth time in a quarter of a century, Tasmania's economic growth for the last financial year was higher than the nation's.

"Per capita, we are growing at our fastest rate in a decade, nearly double the national average."

A largely no-surprise budget included $56 million to progress a second interconnector between Tasmania and mainland Australia, as announced earlier this year.