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The Indian Union Budget has earmarked substantial investments in infrastructure, recognising its pivotal role in driving economic growth and development. With a focus on capital expenditure and public-private partnerships, the budget outlines several key initiatives aimed at enhancing the nation's infrastructure.
The budget allocates an impressive ₹11,111 lakh crore towards capital expenditure, representing 3.5% of the GDP. This significant investment is expected to have a strong multiplier effect on the economy, generating employment, boosting productivity, and fostering long-term economic growth.
To encourage private sector participation in infrastructure development, the government will promote investments through viability gap funding. This initiative aims to make infrastructure projects financially viable for private investors, thereby accelerating the pace of infrastructure development across the country.
The fourth phase of the PM Gram Sadak Yojana will focus on improving rural connectivity, targeting 25,000 eligible rural areas. This initiative aims to provide all-weather road connectivity to unconnected habitations, enhancing access to markets, healthcare, and education for rural communities.
Recognising the critical need for flood control and irrigation infrastructure, the budget allocates ₹11,500 crore towards accelerated irrigation projects and flood control structures. These projects will be implemented in states like Bihar, Uttarakhand, Himachal Pradesh, Assam, and others, addressing flood issues and promoting agricultural productivity through improved irrigation facilities.
The budget underscores the importance of tourism in job creation and economic enhancement, positioning India as a global tourist destination. Development of temple corridors and other tourism infrastructure projects will be prioritised to attract international visitors, boost local economies, and create employment opportunities in the tourism sector.
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