FM Sitharaman announced a 35.4 per cent increase in capital expenditure (Capex) to Rs 7.50 lakh Crores for FY23 from Rs 5.54 lakh Crores in FY22. The move comes as India aims to revive the economy via higher investments and growing inflation.

This year’s growth-oriented budget seeks on infrastructure to promote recovery from Covid-19 as it notices fiscal development as the government has missed the fiscal deficit target for the financial year 2022. The government said it had revised the fiscal deficit target for FY22 to 6.9 per cent from 6.8 per cent.