Budget pushes for developing transport, urban infrastructure, housing

Railways ministry gets highest-ever capital expenditure allocation, of Rs 2.4 trillion in FY24

Finance Minister Nirmala Sitharaman’s Budget on Wednesday announced initiatives for transport and housing, supporting the sectors with a record capital expenditure allocation of Rs 10 trillion.

The ministries of housing and urban affairs (MoHUA) and railways will see a capex surge in FY24, getting close to Rs 3.2 trillion together. The Centre will continue its focus on having a "virtuous cycle" in private investment and getting more of it into government projects.

“The newly-established infrastructure finance secretariat will assist all stakeholders for more private investment in infrastructure, including railways, roads, urban infrastructure, and power, which are predominantly dependent on public