Effective capital expenditure estimated at Rs 10.68 lakh crore: Sitharaman

Union Finance Minister Nirmala Sitharaman said that effective capital expenditure of the Central government is estimated at Rs 10.68 lakh crore in 2022-23, which is about 4.1 per cent of GDP.

Presenting the Union Budget in Parliament, Sitharaman said, "Allocation of Rs 1 lakh crore to assist the state government to accelerate overall investments in the economy in 2022-23."

The public capital expenditure increased sharply by 35.4 per cent to 7.50 lakh crore in 2022-23 from Rs 5.54 lakh crore, she added.

The Union Budget for 2022-2023 was presented in a paperless format. Sitharaman read out the Budget at the Parliament through a tab, instead of the traditional 'bahi khata'.

On Monday, she tabled this year's Economic Survey, centred around the theme of "Agile approach", which forecasted India's economy to grow by 9.2 per cent during Financial Year 2021-22 and by 8-8.5 per cent in fiscal 2023 beginning 1 April.

The budget session of Parliament began on Monday with the address by President Ram Nath Kovind to both Houses in the Central Hall.

The first part of the Union Budget Session of Parliament will be held from January 31 to February 11 and the second part of the Budget Session will take place from March 14 to April 8.

( With inputs from ANI )