In the Interim Union Budget 2024, presented today, the finance minister Nirmala Sitharaman noted the hike in capital expenditure to over rupees 11 trillion.
Ahead of the general elections, Finance Minister Nirmala Sitharaman on Thursday presented a ‘Vote on Account’ that came with a booster dose for the economy in areas of infrastructure and housing, even while striking a balance between growth and fiscal consolidation imperatives.
The Finance Minister hiked capital expenditure to ₹11.11 lakh crore for 2024-25 while trimming the fiscal deficit for this financial year to 5.8 per cent, from the budgeted 5.9 per cent of GDP, and further lowering to 5.1 per cent in the next fiscal.
“Guided by the principle ‘reform, perform, and transform’, the Government will take up next-generation reforms, and build consensus with the states and stakeholders for effective implementation,” Nirmala Sitharaman said in her budget speech.
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