In her Budget speech for FY23-24, Finance Minister Nirmala Sitharaman increased the capital investment outlay for 2023-24 by 33% to ₹10 lakh crore, which will be 3.3% of the country’s GDP.
Highway sector will utilise the capital expenditure really fast, says Debashish Biswas, partner (Infra), Deloitte India.
These priorities are inclusive development, reaching the last mile, infrastructure and development, green growth, youth power, and the financial sector.
A panel of experts in Fortune India’s pre-budget roundtable has said that the government needs to focus on infrastructure creation.
The state-owned company has bagged a contract worth ₹166.26 crore from Gujarat Metro Rail Corporation.
On infrastructure, PHDCCI suggests that there is a need to take the capital investment in the economy to 10% of the GDP.
The capex push has focused on road and rail sectors. Budget needs to look at other infrastructure segments for holistic growth.
Maharashtra’s biggest expressway -- from land acquisition to completion -- has been phenomenal
Deloitte says the budget needs to lay emphasis on sustainable growth in demand, which will require efforts to create jobs and increase income generation opportunities.
Larsen & Toubro stock gained 2% to hit an all-time high of ₹2,095 after it won a significant order from renewable energy producer Greenko Group.
