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of <h1>India Targets $5 Trillion Economy with Increased Capital Investment in 2023-24 Budget; Focus on Digital and Climate Initiatives.</h1> The government aims to make India a $5 trillion economy by focusing on macroeconomic growth and inclusive welfare, promoting digital economy and fintech, technology-enabled development, energy transition, and climate action. Initiatives since 2014 include GST, Insolvency and Bankruptcy Code, corporate tax reduction, Make in India, Start-up India, and Production Linked Incentive Schemes. A capex-led growth strategy has increased capital expenditure from 2.15% of GDP in 2020-21 to 2.7% in 2022-23. The 2023-24 Union Budget further boosts capital investment by 33% to Rs. 10 lakh crore, aiming to attract private investment and drive economic growth.
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