Budget 2024: Government maintains capex at Rs 11.11 lakh crore

Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented the first budget of the Modi 3.0 government. FM Sitharaman laid out the total capital expenditure to Rs 11,11,111 crore for the Financial Year 2025

In the budget speech, FM informed the lower house that the government will end up spending 3.4 per cent of the Budget on capex compared with 3.2 per cent in the previous year, and almost double of what it spent five years ago.

In the interim budget 2024, the Finance Minister also proposed an 11.1 per cent rise in the capex outlay for this financial year (FY25), taking the capex to Rs 11.11 lakh crore.  

The capex outlay refers to the government's allocation of funds for capital expenditure. This includes investments in infrastructure projects, public sector enterprises, and development schemes aimed at boosting economic growth, creating jobs, and improving public services and facilities.

This was Sitharaman’s seventh consecutive budget in a row as finance minister in Prime Minister Narendra Modi’s cabinet and comes after a setback for Bhartiya Janta Party in the Lok Sabha Election 2024. 

(Source: Republicbiz)