OUTLAY FOR INFRASTRUCTURE DEVELOPMENT TO BE INCREASED BY 11.1 PER CENT TOTALLING TO Rs. 11,11,111 CRORES

While presenting the Interim Budget 2024-25 in Parliament today, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman proposed to increase the outlay for infrastructure development by 11 per cent which will amount to Rs.11,11,111 Crores.  This would be 3.4 per cent of the GDP.  She further stated this increase in allocation reflects the huge multiplier impact of infrastructure development on economic growth and employment creation. 

Smt. Nirmala Sitharaman proposed that three major economic railway corridor programmes identified under PM Gati Shakti will be implemented.  These are (i) energy, mineral and cement corridors; (ii) port connectivity corridors and (iii) high traffic density corridors.  These projects will not only enable multi model connectivity but also improve logistics efficiency and reduce cost.  She said that 40,000 normal rail bogies are proposed to be converted to Vande Bharat standards to enhance safety, convenience and comfort of passengers. 

Smt. Nirmala Sitharaman highlighted that the number of airports in the country have doubled to 149 in ten years.  More number of cities are brought under airmap through UDAN Scheme.  This has resulted in Indian carriers placing order for over 1000 new aircrafts, she added.  She further said  that expansion of existing airports and development of new airports will be expedited.

Smt. Nirmala Sitharaman stated that Metro Rail and NaMo Bharat train systems will support the expansion of large cities especially the transit-oriented development. 

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