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Interim Budget 2024: Infra projects get major push; ports, tourism priority

Thursday, 01 Feb 2024
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The outlay for infrastructure has been increased to Rs 11.11 lakh crore in FY25, FM Nirmala Sitharaman said while presenting the Interim Budget 2024. The notable increase of 11.1 percent in the budget outlay tops the existing Rs 10 lakh crore allocated during FY24.

With this, the country sets its eyes on goals of faster access-controlled highways, super-efficient ports, safer and speedier trains, with cleaner, and decongested cities. The Finance Minister further asserted that all forms of infrastructure are being built in record time and digital public infrastructure (DPI), a new factor of production is instrumental in the formalisation of the economy.

Further, projects for port connectivity, tourism infrastructure and amenities will be taken on Indian islands including Lakshadweep and this move will help in generating employment as well, she informed. Key points include:

- A corpus of Rs one trillion to be set up with a 50-year interest-free loan for research in the farm sector
- Viability gap funding to be provided for offshore wind power
- 10 million houses to get free electricity via rooftop solar programme
- To set up five integrated aqua parks
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