NEW DELHI: The Indian government will spend a record ₹11.11 trillion ($133.87 billion) on infrastructure creation in 2024/25, to ensure the Asian nation remains one of the world’s fastest growing major economies.
The allocation for capital expenditure for the financial year starting April 1 is 11.1 per cent higher than the capex for the current fiscal year, Finance Minister Nirmala Sitharaman said on Thursday in her budget speech.
The federal government’s capital expenditure as a percentage of GDP, which rose to 3.3 per cent in 2023/24, is estimated at 3.4 per cent in the next financial year.
The year-on-year increase is lower than this fiscal year’s.
The government has made a provision of ₹750 billion for 50-year loans to states to boost their capital investments for the next fiscal year.
It had provided ₹1.3 trillion for such loans in this fiscal. ($1 = 82.9900 Indian rupees)
With inputs from Reuters
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