The budget announcement by the Hon’ble Finance Minister Smt Nirmala Sitharaman is extremely progressive and the government has continued its focus on steps to help the economy by prioritizing infrastructure as one of the Saptrishi (7 Priorities of the union budget 2023). The Budget has rightly focused on ramping up infrastructure creation to provide a boost to revive economic growth. The new outlay of 10 Lakh Crore of infrastructure will aid in the development of the country. There will be 100 new projects for Last Mile connectivity for ports, coal, steel, fertilizers sector. To spur investment in infra at states 50-year interest-free loan also continues.
Setting up a separate Infra Finance Secretary will also assist us and states in road and highways, this will surely bring in more momentum into execution. The allocation of 10 thousand crore per annum for urban infrastructure in Tier 2 and 3 cities will also prove to be a boon for the country’s development. Reducing more than 39k compliances and 3k legal provisions decriminalized for further trust-based government will enhance the ease of doing business. The capital outlay of Rs 2.4 Lakh cr. provided for railways is also a big progressive step.