Govt consistently increased capex for infra development: MoS Finance

The Modi government has consistently increased its expenditure towards infrastructure building over the last 5 years and aims to achieve the Rs 11.11 lakh crore capex target set for the current fiscal, Minister of State for Finance Pankaj Chaudhary said on Friday.

The government's capital expenditure increased from over Rs 5 lakh crore in 2021-22 to Rs 11.11 lakh crore in 2024-25.

"The focus of the Modi Government is on building infrastructure... India's road, air and rail connectivity has improved considerably over the last 10 years," Chaudhary told reporters here.

He further said that keeping in mind the goal set by Prime Minister Narendra Modi to make India a developed nation by 2047, the government has been making budget allocations and will continue to do so in the upcoming Budget for 2025-26.

As per Niti Aayog's 'Vision for Viksit Bharat @ 2047' document, India should strive to elevate itself to high-income status by its centenary of independence.

India must aim to become a US$ 30 trillion economy with a per capita income of US$ 18,000 per annum by 2047.

To achieve this target, India's GDP would have to grow nine times from today's US$ 3.36 trillion, and the per capita income would need to rise 8 times from US$ 2,392 per annum currently, it said.