Gross Fixed Capital Formation (GFCF) in Indian economy increases from Rs. 32.78 lakh crore (constant 2011-12 prices) in 2014-15 to Rs. 54.35 lakh crore in 2022-23 (Provisional Estimates)

The Government and private sector together invest in the economy. This was stated by Union Minister for State for Finance Shri Pankaj Chudhary in a written reply to a question in Lok Sabha today while giving details of the total worth of the investment proposals approved by the Government since 2014 onwards to till date.

The Minister stated that this is indicated by Gross Fixed Capital Formation (GFCF) in the Indian economy which has increased from Rs. 32.78 lakh crore (constant 2011-12 prices) in 2014-15 to Rs. 54.35 lakh crore in 2022-23 (Provisional Estimates). Financial year-wise GFCF at constant (2011-12) prices is given below:

Notes: *: Third Revised Estimates; #: Second Revised Estimates; @: First Revised Estimates, ^: Provisional Estimates

Source: MoSPI

The Minister further stated that the government is implementing the 'Scheme for Special Assistance to States for Capital Expenditure' (2020-21 & 2021-22) and 'Scheme for Special Assistance to States for Capital Investment' (2022-23 & 2023-24). Government approved and released special assistance (loan) in the form of 50-years 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. The year-wise and State- wise details of the approved and released amount for the period from 2020-21 to 2023-24 (as on 25.07.2023) is given in ANNEXURE 1.