(01 Jan 2025, 12:49)

Government’s thrust on public capex on physical, social and digital infrastructure will be important to maintain growth momentum

Federation of Indian Chambers Of Commerce & Industry has stated that the thrust laid by the government on capex over the last few years aided recovery and ensured support to the growth momentum. Given the uncertainty amidst persisting global headwinds, government’s thrust on public capex on physical, social and digital infrastructure will be important to maintain the growth momentum. The capital outlay in Union Budget 2024-25 was budgeted at Rs 11.11 lakh crore. The quality of the fisc has improved over time with revenue expenditure being contained and productive capital expenditure being prioritized. It has proposed government to consider increasing capex in FY26 by 15 percent over 2024-25. FICCI noted that Indian economy has exhibited resilience, despite persisting downside risks. Economic Survey 2023-24 released in July 2024 projected India to grow at 6.5-7.0 per cent in fiscal 2024-25 – which though moderation from 8.2 percent growth reported in 2023-24 is encouraging given the global economic environment. Union Budget 2024-25 maintained a strong commitment towards balancing various objectives for achieving the vision of Viksit Bharat. Continuing and deepening reforms agenda on nine priorities outlined in the Union Budget 2024-25 will be important for sustaining resilience seen in the economy.

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Government’s thrust on public capex on physical, social and digital infrastructure will be important to maintain growth momentum