Budget 2024: Finance Minister Nirmala Sitharaman will unveil the first Union Budget of the Modi 3.0 government in the third week of July. The upcoming budget is likely to be an extension of the interim budget presented earlier this year in February 2024. In the run-up to the event, the finance minister held several pre-budget consultations with representatives of various sectors in June.

While unveiling the Interim Budget 2024 on February 1, Sitharaman announced an 11.1 per cent increase in capital expenditure (capex) for fiscal year 2024-25 (FY25), raising the allocation to ₹11.11 lakh crore to develop infrastructure projects. The infra-capex allocation was double the allocation 10 years ago. The key infra sectors including railways, road transport, and highways had utilised up to 85 per cent of their budgetary allocations in the first nine months of FY24.

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According to most industry bodies, key technological interventions, private sector engagement, market liberalization, and efficient resource utilization will ensure a strong and reliable future for India’s infrastructure sector and transport sectors. Here’s what leading industry leaders expect from the upcoming Interim Budget 2024 to strengthen India’s infrastructure and railway sector: