Rs 1,900 crore deficit likely to hit infrastructure projects in FY23

The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23).

While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation.

For the National Industrial Corridor Development & Implementation Trust (NICDIT), the finance ministry has allocated Rs 1,500 crore instead of Rs 2,400 crore demanded for the project.

“The committee notes with concern