Union Finance Minister Nirmala Sitharaman on Wednesday (1 February) presented the Budget 2023-24 in the Parliament.
During her Budget speech, the Finance Minister announced that the government will increase the capital investment outlay by 33 per cent to Rs 10 lakh crore.
"Investments in infrastructure and productive capacity have a large multiplier impact on growth and employment. After the subdued period of the pandemic, private investments are growing again," Sitharaman said.
"The Budget takes the lead once again to ramp up the virtuous cycle of investment and job creation.... the capital investment outlay is being increased steeply for the third year in a row by 33 per cent to Rs 10 lakh crore, which would be 3.3 per cent of GDP," she added.
The minister added that the outlay announced will be "almost three times of the outlay made in 2019-20".
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