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CAPITAL INVESTMENT OUTLAY INCREASED BY 33% TO 10 LAKH CRORE
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....APITAL INVESTMENT OUTLAY INCREASED BY 33% TO 10 LAKH CRORE <br>Budget<br>Dated:- 1-2-2023<br><BR>CAPITAL INVESTMENT OUTLAY INCREASED BY 33% TO ₹ 10 LAKH CRORE EFFECTIVE CAPITAL EXPENDITURE OF CENTRE AT 4.5% OF GDP 50-YEAR INTEREST FREE LOAN TO STATES CONTINUED FOR ANOTHER YEAR INFRASTRUCTURE FINANCE SECRETARIAT TO ASSIST STAKEHOLDERS FOR PRIVATE INVESTMENT Continuing with the trend of re....
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....cent years, Union Budget 2023-24 proposes a steep increase in capital investment outlay - envisioning capital investment as the driver of growth and jobs. This was stated by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman while presenting the Budget 2023-24 in Parliament here today. "This substantial increase in recent years is central to the government's efforts to enhance....
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.... growth potential and job creation, crowd-in private investments, and provide a cushion against global headwinds", Smt. Sitharaman said. The Finance Minister proposed to increase capital investment outlay for the third year in a row, by 33% to ₹ 10 lakh crore, which would be 3.3% of GDP and almost three times the outlay in 2019-20. EFFECTIVE CAPITAL EXPENDITURE Smt. Sitharaman added that ....
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....the direct capital investment by the Centre is complemented by the provision for creating capital assets through Grants-in-Aid to States. She said that this "Effective Capital Expenditure" of the Centre would be budgeted at ₹ 13.7 lakh crore i.e. 4.5% of GDP. INTEREST-FREE LOAN TO STATES CONTINUED To spur investment in infrastructure and to incentivize States for complementary policy actio....
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....ns, the Finance Minister proposed to continue the 50-year interest free loan to State Governments for one more year - with the outlay in this regard being enhanced significantly to ₹ 1.3 lakh crore. INFRASTRUCTURE FINANCE SECRETARIAT The Finance Minister in her Budget 2023-24 speech noted that after the subdued period of the pandemic, private investments are growing again. To attract priva....
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....te investment in sectors predominantly dependent on public resources, Smt. Sitharaman said that the newly-established Infrastructure Finance Secretariat will assist all stakeholders for more private investment in infrastructure sectors like railways, roads, urban infrastructure and power. ******<BR> News - Press release - PIB....