Budget 2024: No big bang announcement, focus continues on infra development

Union Finance Minister Nirmala Sitharaman on Thursday announced the interim budget 2024. In her budget speech, she made no big bang announcement for the road infrastructure but stated that the Indian government will continue to focus on the development of infrastructure across the country.

In her budget speech, Finance Minister Sitharaman stated that infrastructure upgrades and building connectivity across the country will remain in focus for the government. However, she didn't specifically mention any project or allocation for the road infrastructure, which was a key expectation from the budget.

The Ministry of Road Transport and Highways (MoRTH), has been seeking higher allocation. The ministry received a budget allocation of ₹2.7 lakh crore in Union Budget 2023, registering a 36 per cent hike from ₹1.99 lakh crore allocated in the FY22-23. In her interim budget speech on Thursday, Sitharaman mentioned that the infrastructure budget has been increased by 11.1 per cent to ₹11.11 lakh crore, but she didn't specify the allocation for road infrastructure projects.

Prime Minister on Interim Budget 2024

Commenting on the budget, Prime Minister Narendra Modi said that with this allocation, India's modern infrastructure will see a boost. "With this, besides building India's modern infrastructure of the 21st century, innumerable new job opportunities for the youth will be prepared," he said.

Nitin Gadkari on Interim Budget 2024

Union Minister for Road Transport and Highways, Nitin Gadkari said that the interim budget is aimed to strengthen India's economic sector, in line with the aim to make India the third largest economy in the world. "The Finance Minister's Budget is aimed to strengthen India's economic sector, in line with PM Modi's resolve to make India the third largest economy of the world. This is a budget to speed up the country's development and increase employment," he said.