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The Indian government will spend a record 11.11 trillion rupees ($133.87 billion) on infrastructure creation in 2024/25, to ensure the Asian nation remains one of the world's fastest growing major economies.

The allocation for capital expenditure for the financial year starting April 1 is 11.1% higher than the capex for the current fiscal year, Finance Minister Nirmala Sitharaman said on Thursday in her budget speech.

The federal government's capital expenditure as a percentage of GDP, which rose to 3.3% in 2023/24, is estimated at 3.4% in the next financial year.

The year-on-year increase is lower than this fiscal year's.

The government has made a provision of 750 billion rupees for 50-year loans to states for boosting their capital investments for next fiscal year.

It had provided 1.3 trillion rupees for such loans in this fiscal.

($1 = 82.9900 Indian rupees)