Capital Expenditure Outlay for FY 2024-25 Increased by 111%
Key Takeaways from the Budget 2024
Substantive Development of All Forms of Infrastructure
In the upcoming 2024-25 Union Budget, Finance Minister Nirmala Sitharaman has announced a significant 111% increase in the Capital Expenditure (CAPEX) outlay, bringing it to a new total of Rs 40,000 crore. This allocation underscores the government's commitment to developing all forms of infrastructure, including physical, digital, and social digital infrastructure.
Digital Public Infrastructure (DPI) and Financial Formalization
The budget also emphasizes the promotion of DPI and facilitating financial formalization. DPI plays a critical role in supporting digital transformation across sectors, while financial formalization aims to bring more individuals and businesses into the formal financial system.
GDP Growth Projection and Key Reactions
Additionally, the budget projects India's real GDP to grow at 7.3% in FY 2023-24. FM Sitharaman's speech and the overall budget highlights have garnered reactions from various stakeholders, including businesses, economists, and the general public.
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