Union Budget 2023: Govt to Continue 50-year Interest-Free Loans to States for Another Year

Union Budget 2023: Average processing time for income tax returns reduced from 93 days to 16 days.

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced that the Centre will continue 50-year interest-free loans to state governments for one more year. She also said the enhanced capex of Rs 10 lakh crore for infrastructure development is at 3.3 per cent of the GDP. Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment.

An expert committee will also be set up to make infrastructure classification and financing framework suitable for Amrit Kaal, she added. On October 13 last year, Prime Minister Narendra Modi had launched the Gati Shakti - National Master Plan, aimed at developing integrated infrastructure to reduce logistics costs.

All logistics and connectivity infrastructure projects, entailing investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative.

She also informed that the PM Particularly Vulnerable Tribal Groups (PVTGs) scheme would benefit 3.5 lakh tribals.