Finance Minister Nirmala Sitharaman on February 1 announced that the Centre will continue 50-year interest-free loans to State governments for one more year. She also said the enhanced capex of ₹10 lakh crore for infrastructure development is at 3.3% of the GDP.
Presenting the Budget for 2023-24, she said the newly established infrastructure Finance Secretariat will assist in attracting more private investment. “An expert committee will also be set up to make infrastructure classification and financing framework suitable for Amrit Kaal,” she added.
On October 13 last year, Prime Minister Narendra Modi had launched the Gati Shakti - National Master Plan, aimed at developing integrated infrastructure to reduce logistics costs.
All logistics and connectivity infrastructure projects, entailing investment of over ₹500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative. She also informed that the PM Primitive Vulnerable Tribal Group scheme would benefit 3.5 lakh tribals.