M makes big announcements Digital Currency, Jobs, Infrastructure, PM Gati Shakti

Finance Minister Nirmala Sitharaman on Tuesday presented a growth-oriented Budget which focused on 4 pillars – productivity, climate action, financing investments and PM Gati Shakti plan. The Budget stepped up the capital expenditure sharply by 35.4 per cent to Rs 7.50 lakh crore to attract more private investment and attract growth.

The Budget announcements delighted experts as they believe emphasis on infrastructure and Capex expansion is the way to go forward. For 2022-23, allocation of Rs 1 lakh crore is announced to assist the states in catalyzing overall investments in economy. These 50-year interest-free loans are over and above the normal borrowings allowed to states. This money will be used for PM Gati Shakti-related and other productive capital investments of states, said FM.

She further announced additional allocation of Rs 19,500 crore for PLI for manufacturing of high-efficiency modules to facilitate domestic manufacturing for ambitious goal of 280 GW of installed solar capacity by 2030. The Economic Survey released on Monday, January 31st forecasts an 8 per cent to 8.5 per cent growth in FY23. This is on top of an expected 9.2 per cent growth in the Gross Domestic Product (GDP) this year (FY22)

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