Union Budget 2024 | Interest-free loans to states a strategic initiative to enhance their capital expenditure, says CareEdge Ratings Director

'According to CareEdge Ratings, there is an anticipated rise in the participation of the public-private partnership model within the infrastructure ventures,' Desai said.

Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024, highlighting the Modi govt 3.0’s priorities across multiple sectors.

The Budget identified the following areas as priorities: productivity and resilience in agriculture, employment & skilling, inclusive human resource development and social justice, manufacturing & services, urban development, energy security, and infrastructure.

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Here’s how industry stakeholders reacted:

Maulesh Desai, Director at CareEdge Ratings, said, "The Union Budget has maintained the capital expenditure at Rs 11.11 lakh crore, in line with the allocations of the Interim Budget. The provision of interest-free loans amounting to Rs 1.5 lakh crore to states represents a strategic initiative to enhance their capital expenditure. According to CareEdge Ratings, there is an anticipated rise in the participation of the public-private partnership model within the infrastructure ventures. "

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"The unveiling of projects such as industrial parks, industrial corridors, and connectivity enhancements across several states is poised to elevate the cost-effectiveness of locally manufactured goods and augment the logistics efficiency," Desai aded.

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.