In a significant move to support states in developing their infrastructure, the government has announced Rs 1.5 lakh crore worth of interest-free loans on a long-term basis. This announcement was made by Finance Minister Nirmala Sitharaman during the Union Budget 2024-25 presentation. These loans aim to provide much-needed financial support to states, ensuring robust infrastructure development across the country.

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Promoting Private Sector Investment and Road Connectivity
The Union Budget 2024-25 also emphasizes facilitating private sector investment in the infrastructure sector through viability gap funding. This strategy is expected to attract significant private investment, further boosting infrastructure projects. A notable allocation of Rs 26,000 crore has been set aside for developing road connectivity projects, ensuring better transportation networks and accessibility.

The budget underscores the government's commitment to maintaining strong fiscal support for infrastructure over the next five years. Among the key projects, an industrial node at Gaya on the Amritsar-Kolkata Industrial Corridor will be developed, enhancing industrial growth and economic activity in the region.

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Significant Capital Expenditure and Rural Development Initiatives
The Union Budget 2024-25 has pegged the capital expenditure at Rs 11,11,111 crore, which accounts for 3.4 percent of the GDP. This substantial investment reflects the government's dedication to infrastructure development and economic growth.

In addition to urban projects, the budget announces the launch of the fourth phase of the PM Gram Sadak Yojana, targeting 25 rural habitations. This initiative aims to improve rural road connectivity, ensuring that even remote areas benefit from the infrastructure push. Furthermore, the budget provides assistance to Assam for flood management and related projects.

Also Read: Budget 2024: Nirmala Sitharaman introduces ₹2 lakh crore plan for youth development, Check details

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