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Key amendments proposed in Union Budget 2024 in respect of infrastructure sector
On Tuesday, 23 July 2024, the Hon'ble Finance Minister - Nirmala Sitharaman presented the Union Budget 2024 in the Lok Sabha.
The Honourable Finance Minister, in the 7th consecutive budget, lays down a well-defined strategy to steer India's economy on a path of growth.
Budget 2024-25, core to the vision of Viksit Bharat, maintains the same amount of allocation of INR11.11lakh crore for the infrastructure sector (as announced in the interim budget). To encourage higher private participation and to optimize the working capital requirements, the government has proposed to promote viability gap funding. On similar lines for an all-rounded development of state infrastructure, long term interest-free loans are proposed for state governments. Announcements for development of plug and play industrial parks, industrial corridors, roads, etc. are expected to create opportunities for generating employment, improving connectivity, and promoting tourism which shall further boost the Indian economy.
In this relation, we present our detailed infrastructure sector alert.