Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Former NITI Aayog vice chairman Rajiv Kumar on Wednesday said the government needs to continue its focus on capital expenditure in the upcoming interim budget, as private investment is 'still weak' and there is a need to bridge infrastructure gap, which has been 'plaguing' the Indian economy.
Kumar noted that an increase in capital expenditure during the Modi government period is showing results in terms of the much better quality of the infrastructure and this was needed to make Indian industry globally competitive.
He said the finance minister will achieve fiscal consolidation targets because of rising indirect tax revenues and the widening direct tax base.
Also Read : India nears trade deal with Oman, strengthening Mideast ties NMDC plans 55 million mt iron ore output in FY 2025-26.
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