GUWAHATI: In the interim budget speech on February 1, Finance Minister Nirmala Sitharaman announced a substantial 11% increase in capital expenditure for the financial year 2024-25, reaching ₹11.11 lakh crore or 3.4% of the GDP. The minister emphasized the significant tripling of capex over the last four years, highlighting its positive impact on economic growth and employment generation.
The Finance Minister revealed the continuation of the scheme offering 50-year interest-free loans for capital expenditure to states, allocating a total outlay of ₹1.3 lakh crore for the initiative in the upcoming fiscal year.
Looking ahead, Sitharaman hinted at a comprehensive roadmap for 'Viksit Bharat' (Developed India) to be presented in the full Budget scheduled for July. She provided a glimpse of the revised estimates for 2023-24, indicating total receipts other than borrowings at ₹27.56 lakh crore, with tax receipts standing at ₹23.24 lakh crore.