Thursday, 29 Feb, 2024

International

India Budget: Capital Expenditure Increased By 33% To ₹ 10 Lakh Crores

International Desk | banglanews24.com
Update: 2023-02-01 15:06:19
India Budget: Capital Expenditure Increased By 33% To ₹ 10 Lakh Crores

The central government will spend ₹ 10 trillion (Rs 10 lakh crore) on longer term capital expenditure in 2023/24, extending a strategy adopted to revive growth in the aftermath of the Covid crisis.

The allocation is higher than the ₹ 7.5 trillion (Rs 7.5 lakh crore) budgeted in the previous year and the highest on record.

The year-on-year increase of 33% is only marginally lower than last year's 35% jump.

The ratio of capex-to-GDP, which rose to 2.7% in 2022/23, is estimated at 3.3% in the new financial year, Finance Minister Nirmala Sitharaman said.

The government will also continue a ₹ 1.3 trillion long-term loan to states for longer term investments, the minister said.

Source NDTV

BDST: 1504 HRS, FAB 01, 2023
MSK

All rights reserved. Sale, redistribution or reproduction of information/photos/illustrations/video/audio contents on this website in any form without prior permission from banglanews24.com are strictly prohibited and liable to legal action.