Gunning for Growth

Finance Minister Nirmala Sitharaman’s Budget for FY22-23 was delivered against the backdrop of the third wave of COVID and its impact. The Budget has increased the capex from Rs 5.5 lakh crore in FY21-22 to Rs 7.50 lakh crore in FY22-23 – the effective capex will be Rs 10.68 lakh crore in FY22-23. This is a commendable step that will translate to 4 per cent of GDP and be around 2.2 times the capex budget of FY2019-20. The doubling of capex in three years is truly a bold move. The finance minister has also involved the states in the capex programme by providing Rs 1 lakh crore support in FY22-23 by way of a 50-year interest-free loan. This will assist states in taking additional capex, adding to overall capex spending in the country. She has also announced the introduction of digital currency by RBI, another bold move. Here is the impact of the proposal provided sector wise namely for roads, railways, metro rail, Gati Shakti Mission, Jal Shakti, River Interlinking, Renewable Energy, Rural Infra, PM Awas Yojana, Urban Infra, Low Carbon Economy, Digitisation and more… Click here to read more