Representative image of high rise building.
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Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024 in the Lok Sabha, announcing a slew of measures for boosting the infrastructure, in addition to other announcements.
Overall, the FM said that capital expenditure on infrastructure will be Rs 11,11,111 crore, that's almost 3.4 per cent of the country's Gross Domestic Product (GDP).
Here's what the FM said about measures being taken to improve country's infrastructure and allied sectors:
Assistance state government: The central government has made Rs 1.5 lakh crore provision for long-term interest-free loans to support Infrastructure investment by state governments.
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Update on Pradhan Mantri Gram Sadak Yojana: Under phase-4 of central government's flagship road connectivity programme, it will provide all-weather connectivity to 25,000 rural habitations across the country.
Accelerated Irrigation Benefit Programme: Under this scheme, central government will offer support of Rs 11,500 crore for projects such as Kosi-Mechi intra-state link
Special package to North and North eastern states: Central government will offer assistance to Assam & Himachal Pradesh for flood management.
It will also offer similar support to Uttarakhand and Sikkim for losses due to cloud bursts, flash floods and landslides.
Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman will be presenting her 7th Union Budget on July 23, 2024 under the Modi 3.0 government. While inflation has burnt a hole in the pockets of 'aam janata', will this Budget spell relief for Indians? Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.