Budget 2024: FM Proposes Rs. 11,11,111 Crore to be Invested in India’s Capital Expenditure, 3.4% of GDP [Read Bill]

The Union Finance Minister Nirmala Sitharaman presented the full budget at 11 AM on 23rd of July 2024. The  Budget 2024 announced the allocation of Rs.11,11,11 Crores for capital expenditure at 3.4% of India’s GDP.

The Union Budget 2024 gives massive push to India’s Infrastructure development with allotment of finances to various sectors such as;

• To support state infrastructure development Rs 1.5 Lakh Crore will  be allocated for long term interest free loans to states.

• The Union Government is set to launch IVth phase of Pradhan Mantri Gram Sadak Yojana  (PMGSY) aiming for all weather connectivity of 25,000 rural habitations, and expand the nation’s transportation in rural areas.

• The government through Accelerated Irrigation Benefit Programme shall issue Rs.11,500 crore for projects such as Kosi-Mechi intra state link,etc for pollution ebbing, flood control and irrigation projects.

• The Budget 2024 also emphasized on providing financial assistance to Assam and Himachal Pradesh for flood management, and Uttarakhand and Sikkim for losses due to cloud bursts, flash floods and landslides.

The Finance Minister in her budget speech said that the budget 2024 has been formulated to make significant investments to boost infrastructure and to facilitate private structure infrastructure through viability gap funding and enabling policies.

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