Budget 2023-24: FMs big push for railways, infra and connectivity

Budget 2023-24: FM's big push for railways, infra and connectivity

The finance minister announced that a capital outlay of Rs 2.40 lakh crore has been provided for the Railways, which is the highest ever outlay and about 9 times the outlay made in 2013- 14.

She also informed that one hundred critical transport infrastructure projects, for last and first mile connectivity for ports, coal, steel, fertilizer, and food grains sectors have been identified and they will be taken up on priority with investment of Rs 75,000 crore, including Rs 15,000 crore from private sources.

Also Read: Budget 2023-24: A year’s extension for 50-year interest-free loans for states

Sitharaman said that fifty additional airports, heliports, water aerodromes and advance landing grounds will be revived for improving regional air connectivity.

The finance minister also announced that an Urban Infrastructure Development Fund (UIDF) will be established through use of priority sector lending shortfall, which will be managed by the National Housing Bank, and will be used by public agencies to create urban infrastructure in Tier 2 and Tier 3 cities.

Also Read: Budget 2023: When FM Sitharaman left the entire house in splits with a gaffe

She said that States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF. Sitharaman added that the Government will make available Rs 10,000 crore per annum for this purpose.

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