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Big Boost for Infrastructure
Business World India
|February 25, 2023
The robust infrastructure spending announced in the Budget bodes well for the growth prospects of engineering, procurement and construction companies
PRIORITY ON INFRA SPENDINGS
33% Higher Capital Expenditure
22% Extra Allocation for Roads
15% Higher Allocation to Railways
3% Higher Allocation to PMAY
Rs 2.9 trillion Outlay for Roads
Railways To procure new wagons, add new Lines
THE NARENDRA MODI government’s growth agenda has once again come through forcefully in the Union Budget 2023-24. Continuing the trend of the past several years, the Budget for FY24 has bumped up the allocation for capital expenditure (capex) by a record 33 per cent year-onyear (YoY) to Rs 18.1 lakh crore, which includes central government capex of Rs 8.2 lakh crore for FY24(BE), loans to states for capex of Rs 1.3 lakh crore, grants-in-aid of capital assets of Rs 3.7 lakh crore, and Internal and Extra Budgetary Resources (IEBR) of Rs 4.9 lakh crore.
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