India's Gross Fixed Capital Formation grew to Rs 54.35 lakh crore since 2014-15

New Delhi: The Gross Fixed Capital Formation (GFCF) in the Indian economy has shown a significant increase, rising from Rs. 32.78 lakh crore (at constant 2011-12 prices) in 2014-15 to Rs 54.35 lakh crore in 2022-23 (based on Provisional Estimates).

IBNS • 1 Aug 2023, 12:39 am

Union Minister for State for Finance Pankaj Chaudhary conveyed this information to Lok Sabha on Monday in a written reply to a question while giving details of the total worth of the investment proposals approved by the government from 2014 onwards to till date.

The Government and private sector together invest in the economy, he underscored.

The Minister stated that the government is implementing the 'Scheme for Special Assistance to States for Capital Expenditure' (2020-21 & 2021-22) and the 'Scheme for Special Assistance to States for Capital Investment' (2022-23 & 2023-24).

The government approved and released special assistance (loan) in the form of a 50-year interest-free loan for capital expenditure on capital projects including capital projects pertaining to sectors like health, education, irrigation, power, etc for capital expenditure for different states.