($1 = 81.7725 Indian rupees) (Reporting by Ira Dugal; Editing by Savio D'Souza)
MUMBAI, Feb 1 (Reuters) - The Indian government will
spend 10 trillion rupees ($122.3 billion) on longer term capital
expenditure in 2023/24, extending a strategy adopted to revive
growth in the aftermath of the Covid crisis.
The allocation is higher than the 7.5 trillion rupees
budgeted for in the previous year and the highest on record.
The year-on-year increase of 33% is only marginally lower
than last year's 35% jump.
The ratio of capex-to-GDP, which rose to 2.7% in 2022/23, is
estimated at 3.3% in the new financial year, Finance Minister
Nirmala Sitharaman said.
The government will also continue a 1.3 trillion rupees
long-term loan to states for longer term investments, the
minister said.
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