Unprecedented growth seen in infrastructure, farmers’ welfare during PM Modi’s tenure
New Delhi, March 22 (IANS) The central government, under the visionary leadership of Prime Minister Narendra Modi, has taken some historic steps for the development of the country’s infrastructure and the welfare of farmers in the last decade, show latest industry data.
According to the latest information shared by Infoindata on its X social media handle, the Capital Expenditure (Capex) is set to reach Rs 65.82 lakh crore by FY26.
“Total Capex in PM Modi’s tenure stands at 65.82 lakh crore till FY-26, more than a 5x increase of what it was in the UPA era (2004-14). This massive infrastructural overhaul has been synced with farmers’ welfare, which is evident from consistently increasing MSP support also,” according to Infoindata, citing the RBI, Ministry of Agriculture and Farmers’ Welfare.
The Capex was Rs 12.39 lakh crore during the tenure of the UPA government (2004-2014), which shows a massive 431 per cent growth in the last 10 years.
Apart from this, there has also been a huge increase in expenditure on Minimum Support Price (MSP), which shows the government’s commitment towards farmers.
If the data is to be believed, the MSP was Rs 7.04 lakh crore during the UPA government (2004-2014), which is Rs 23.12 lakh crore during the tenure of the PM Modi-led government (2014-2024). MSP figures have seen a tremendous 228 per cent growth during the tenure of the Modi government.
According to the government, since 2014, it has allocated a total of Rs 43.53 lakh crore in Gross Budgetary Support (GBS) capital expenditure, an increase of 3.72 times compared to 2004-14.
The Centre’s focus has been on Capex in the last few years, and now it has also given a huge boost to increasing consumption.
In this context, the government has also infused more capital to strengthen the Food Corporation of India (FCI) which procures agricultural goods from farmers at the MSP.
In a challenging and increasingly uncertain global environment, the Indian economy is poised to sustain its position as the fastest-growing major economy during 2025-26 as per the IMF and World Bank estimates of GDP growth of 6.5 per cent and 6.7 per cent, respectively, according to the RBI monthly bulletin last month.
The Union Budget 2025-26 also prudently balances fiscal consolidation and growth objectives by continued focus on Capex alongside measures to boost household incomes and consumption. The effective capital expenditure/GDP ratio is budgeted to improve to 4.3 per cent in 2025-26 from 4.1 per cent in 2024-25 (revised estimate).
—IANS
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