Transformative Boost: Modi Government’s Bold Move to Strengthen India’s Infrastructure

Modi government has declared a substantial increase in the budget to fortify the foundational framework of the nation. Finance Minister Nirmala Sitharaman, unveiling an 11.1% surge in the infrastructure budget, has elevated it to a staggering 11.11 trillion rupees, constituting 3.4% of the GDP.

Paving the Way for World-Class Infrastructure

Emphasizing the resilience of the fundamental structure, the Finance Minister has decided to consecutively enhance the Capital Expenditure budget for the fourth year. With the infrastructure budget bolstered by 11.1%, reaching 11.11 trillion rupees, it accounts for 3.4% of the GDP.

Construction of Three Economic Railway Corridors

With the anticipation of an increased Capital Expenditure budget, there is a prevailing expectation that the government’s focus is set on strengthening the railway infrastructure in conjunction with the robustness of the foundational framework. The implementation of three major economic railway corridor programs, including Energy, Minerals, and Cement Corridors, is in the pipeline. Additionally, initiatives for port connectivity and high-density corridors are in the works.

Transformation of 40,000 Bogies to Vande Bharat Standard

Under the ambit of Prime Minister’s Gati Shakti for multi-modal connectivity, these projects are identified to alleviate logistics costs in the country. These endeavors are poised to ameliorate passenger train operations by alleviating congestion in high-traffic corridors. This not only ensures the safety of rail travel but also facilitates an increase in train speeds. Finance Minister announced a conversion plan for 40,000 normal bogies to the Vande Bharat standard, aiming to enhance the safety and comfort of rail travel.

Potential Expansion in the Full Budget

A provisional provision of 11.11 trillion rupees has been earmarked in the interim budget. However, with the presentation of the full budget after the formation of the new government, this amount might witness an augmentation. In the previous year’s budget for 2023-24, a provision of 10 trillion rupees was allocated for capital expenditure.