Capex hiked by 33% to Rs 10 lakh crore in big infra boost ahead of 2024 elections

Presenting the Budget for 2023-24, FM said the newly established infrastructure finance secretariat will assist in attracting more private investment

Finance Minister Nirmala Sitharaman on Wednesday announced hiking the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP.

Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment.

An expert committee will also be set up to make infrastructure classification and financing framework suitable for Amrit Kaal, she added.

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On October 13 last year, Prime Minister Narendra Modi had launched the Gati Shakti - National Master Plan, aimed at developing an integrated infrastructure to reduce logistics costs.

All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative.

She also informed that the PM Primitive Vulnerable Tribal Group scheme would benefit 3.5 lakh tribals.