Union Budget 2022 | Outlay for capital expenditure stepped up by 35.4% to 7.5 lakh crores in 2022-23: FM

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Finance Minister Nirmala Sitharaman proposed to issue sovereign green bonds to mobilise resources as part of the Government’s borrowing programme

Finance Minister Nirmala Sitharaman on February 1 said that the outlay for capital expenditure has been stepped up by 35.4% to ₹7.5 lakh crore in FY’23.

Effective capital expenditure will be ₹10.68 lakh crore, or 4.1% of GDP, in 2022-23, the Finance Minister said, adding public investment must take the lead to pump prime private investment and support demand.

She proposed to issue sovereign green bonds to mobilise resources as part of the Government’s borrowing programme.

The Finance Minister also said that a world-class university will be allowed in GIFT (Gujarat International Finance Tec-City) IFSC (International Financial Services Centre) free from domestic regulation.

International arbitration centre will also be set up in GIFT city to provide faster dispute resolution, she added.

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