In her seventh budget presentation, Finance Minister Nirmala Sitharaman announced allocating Rs 11 lakh, 11 thousand and 111 crore towards capital expenditure. This would account for 3.4% of the GDP. Enumerating it as among the policy prerogatives towards investment in infrastructure by central government, she told the house that the significant investments made in previous years have triggered a multiplier effect.
“The government endeavours to maintain strong fiscal support for infrastructure over the next 5 years. Capital expenditure to be Rs 11,11 lakh crore at 3.4% of our GDP,” she said in her speech.
FM announced new schemes for promoting agriculture and big road and expressway bonanza for Bihar. Sitharaman announced Rs 2 lakh crore package for 5 schemes.
FM said the implementation of various schemes announced in Interim Budget in February are still underway. Govt will bring National Cooperation Policy for overall development, said Sitharaman.
Allocation for the Mumbai-Ahmedabad bullet train project was lowered from the Rs 25,000 crore allocated in the interim budget to Rs 21,000 crore in the full budget. Dedicated Freight Corridor is expected to get a boost with the enhanced budgetary support of Rs 8155 crore, up from Rs 3955 crore in the interim budget.
