The Indian government has increased its capital expenditure outlay by 33% to ₹10 lakh crore in the latest Union Budget. Capital expenditure refers to investment in large infrastructure projects and is seen as a key driver of economic growth. The increased allocation is expected to drive the country’s development and support the government’s vision of self-reliant India.
The Union Budget, presented by Finance Minister Nirmala Sitharaman, also emphasized the need for public investments in infrastructure, education, and health. This move is expected to spur demand and create jobs in the country. The government aims to make India a major player in the global market by leveraging the strength of its domestic industry.
The Finance Minister highlighted that this year’s budget will focus on five main pillars: human capital, physical capital and infrastructure, inclusive development for aspirational India, reinvigorating growth, and minimizing the government’s role in people’s lives. This budget is also seen as a step towards achieving the goal of making India a $5 trillion economy by 2025.
Overall, the increased allocation for capital expenditure is seen as a positive development for the Indian economy and is expected to provide a much-needed boost to the country’s growth trajectory.
