2024

Vision

Trillion

<p>FM <a href="https://coingape.com/budget/interim-budget-2024-fm-sitharaman-unveils-ambitious-fiscal-targets/" target="_blank" rel="noopener noreferrer nofollow">Nirmala Sitharaman</a> has announced a significant 11.1% increase in the capital expenditure (capex) outlay for the fiscal year 2024-25 during the Interim Budget 2024 announcement. Notably, this move is seen as a strategic move to propel economic growth and fortify infrastructure development.</p>
<p>Meanwhile, the robust allocation of Rs. 11.11 trillion, unveiled in the interim budget, builds upon the government’s consistent efforts in recent years to boost infrastructure, create employment, and stimulate economic progress.</p>
<h2 id="budget-boosts-capex-to-rs-11-11-trillion">Budget Boosts Capex to Rs. 11.11 Trillion</h2>
<p>The <a href="https://coingape.com/budget/india-budget-2024-nirmala-sitharaman/" target="_blank" rel="noopener noreferrer nofollow">Interim Budget 2024</a> brings a substantial rise in capital expenditure, with Finance Minister Nirmala Sitharaman revealing a whopping Rs. 11.1 trillion allocation for infrastructure development. This marks an 11.1% surge from the previous fiscal year’s Rs. 10 trillion allocation.</p>
<p>Meanwhile, global financial market watchers were eagerly waiting for the India Budget 2024, for cues on the upcoming plans in India’s economic landscape. Meanwhile, the consistent growth trajectory in capex includes a remarkable 37% increase in the current fiscal year, following growth rates of 24% in FY23 and 40% in FY22.</p>
<h2 id="paving-the-way-for-vision-2047">Paving the Way For Vision 2047</h2>
<p>Addressing the nation, Finance Minister Sitharaman emphasized the government’s commitment to steeply increasing the capital investment outlay for the fifth consecutive year. This surge, now accounting for 3.4% of the GDP, is a vital step in realizing the ambitious Vision 2047 goals.</p>
<p>Notably, the bulk of the increased capex is directed towards crucial sectors like roadways, shipping, and railways, amplifying efforts to complete projects under the Vision 2027 plan.</p>
<p>Meanwhile, this strategic move underscores India’s determination to position its infrastructure sector as the primary driver in achieving its $5 trillion economy target and attaining developed nation status by 2047. The increased capex not only fuels ongoing progress but also aims to attract private investment, creating a synergy that propels India towards its future economic aspirations.</p>
<p>The post <a href="https://coingape.com/budget/interim-budget-2024-nirmala-sitharaman-propels-economic-growth-with-11-capex-surge/" rel="noopener noreferrer nofollow">Interim Budget 2024: Nirmala Sitharaman Propels Economic Growth With 11% CAPEX Surge</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Interim Budget 2024: Nirmala Sitharaman Propels Economic Growth With 11% CAPEX Surge

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