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 sꦺaid the newly established infrastructure finance secretariat will assist in attract🦄ing more private investment.
"Capital ♑investment outlay is being increased steeply for the third year in a row by 33 per cent to Rs 10 lakh crore, which would be 3.3 per cent of GDP.
"This wil��l be almost three times the outlಌay in 2019-20," Sitharaman said.
According to the minister, the Harmonized Master List of Infrastructure will be reviewed by an expert committee for recommending the classification and financing frame☂work suitable for Amrit Kaal.
She said one hundred cr𝄹itical transport infrastructure projects, for the last and first-mile connectivity for ports, coal, steel, fertiliser and foodgrains sectors have been identified.
"They will be taken up on priority with an inve🌼stment of 🃏Rs 75,000 crore, including Rs 15,000 crore from private sources," she said.
The finance minister said investments in infrastructure and productive ca♐pacity have a large🍸 multiplier impact on growth and employment. After the subdued period of the pandemic, private investments are growing again.
&q🌟uot;The Budget takes the lead once again to ramp up the virtuous cycle of investment and job creation," she added.
On October 13, 2021, Prime Minist✱er Narendra Modi launched the PM Gati S🍒hakti - 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 Network Planning Group (NPG), constituted under the PM Gati Shakti initiative.
