According to the Union Budget for 2024-25, India continues to lay the emphasis on infrastructure – transport and urban, releasing ₹11.11 lakh crore for capital spending or 3.4% of the GDP.

Major Infrastructure Projects:

– Transportation:
– Pradhan Mantri Gram Sadak Yojana (PMGSY) Phase IV: Designed to establish an all-weather transport link to a current 25,000 eligible rural habitation arising from the population factors.

– Urban Development:
– Transit-Oriented Development Plans: Preparing specific strategies in 14 large metropolitan areas with populations more than 3 million with regards to land use and transport to handle the problem of the sustainable development of urban areas.
– Urban Housing: An outlay of ₹2.2 lakh crore for improving urban infrastructure including housing over the next five and more financial help in the form of interest subsidies to support affordable housing loans.
-Water Supply and Sanitation: Partnership with state governments and multilateral development banks, in water supply, sewage treatment and solid waste management projects in 100 large cities via bankable projects.

Funding Mechanisms:

– Long-Term Interest-Free Loans to States: Allocationing ₹ 1.5 lakh crore for promoting the state-level investments in infrastructures encouraging the cooperative federalism in developmental sector.

– Private Sector Participation: To facilitate private investment in the infrastructure sector by encouraging measures such as viability gap funding, enabling policies & regulations for market based financing of infrastructure projects.

– Fiscal Support: The large capital outlay is backed by a receipt from the Reserve Bank of India to ensure the government sustains robust fiscal support for infrastructure in the period up to the Financial Year 2019- 20.

The aforementioned efforts depict a global framework on infrastructure advancement; with the principal goal of boosting economic development, transport connections and standards of living of inhabitants in India’s urban structures.