Budget 2024: Capital expenditures would stay at Rs. 11.11 lakh crore
The Ministry of Road Transport and Highways and the Ministry of Railways have the same allocations of Rs 2.55 lakh crore and Rs 2.78 lakh crore, respectively, as they had in the interim budget.
The proposed capital expenditure outlay of the Union government for 2024–25, which was also included in the interim budget earlier this year, is still Rs 11,11,111 crore. Finance Minister Nirmala Sitharaman provided a fund of Rs 1.5 lakh crore for long-term, interest-free loans to assist states with infrastructure investments during her budget address. She added that through viability gap funding, the government would encourage private sector involvement in infrastructure development, which has fallen short of expectations in recent years.
The next phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY) will concentrate on increasing rural connectivity, the finance minister also declared. Phase IV of PMGSY will begin in order to give 25,000 rural communities—which have grown increasingly isolated—all-weather connectivity.
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