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Finance Minister Nirmala Sitharaman today announced a capital expenditure target of ₹10 lakh crore in the Union Budget 2023-24. “Capital investment outlay is being increased steeply for the third year in a row by 33% to ₹10 lakh crore, which would be 3.3% of GDP. This will be almost three times the outlay in 2019-20,” she said in the Budget speech.
“This substantial increase in recent years is central to the government’s efforts to enhance growth potential and job creation, crowd-in private investments, and provide a cushion against global headwinds,” she added.
“The direct capital investment by the Centre is complemented by the provision made for the creation of capital assets through grants-in-aid to states. The ‘Effective Capital Expenditure’ of the Centre is budgeted at ₹13.7 lakh crore, which will be 4.5% of GDP,” she pointed out.
October 2025
As India’s growth story gains momentum and the number of billionaires rises, the country’s luxury market is seeing a boom like never before, with the taste for luxury moving beyond the metros. From high-end watches and jewellery to lavish residences and luxurious holidays, Indians are splurging like never before. Storied luxury brands are rushing in to satiate this demand, often roping in Indian celebs as ambassadors.
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