Union Budget 2023 Nirmala Sitharaman calls for significant push to Infrastructure and Investment

Investments have a powerful multiplier effect. They improve mobility, facilitate trade, lead to job creation, and boost overall economic productivity. As per the budget, “Capital investment outlay is being increased steeply for the third year in a row by 33 per cent to ₹ 10 lakh crore ($122 bn), which would be 3.3 per cent of GDP. This will be almost three times the outlay in 2019-20.” This will not just crowd-in private investments, enhancing growth potential and job creation, but also provide a cushion against global headwinds.