Budget 2023: FM ups capital outlay by 35.4 per cent to Rs 7.5 lakh cr for FY2023

Mumbai, Feb 1 (UNI) With a clear focus on improving the transportation infrastructure, multi-modal logistic parks, urban planning, as well as energy transition, Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023, on Tuesday proposed a 35 per cent increase in capital expenditure to Rs 7.5 lakh crore in fiscal year 2023. The finance minister in her speech said that the outlay for the capital expenditure has been stepped up 35.4 per cent to Rs 7.5 lakh crore in FY2023 from Rs 5.54 lakh crore in FY2022. The outlay for the next fiscal year is nearly 2.9 per cent of the GDP, she said. Sitharaman further said that the effective capital expenditure for the next fiscal will be Rs 10.68 lakh crore of 4.1 per cent of the GDP. She further said that the capex outlay is almost 2.2 times more than the outlay for FY 2019-20.