The Centre has been the bulwark of investments over the past five fiscals, building out infrastructure to stoke and sustain long-term economic growth. After the Covid-19 pandemic, such investments have been the driver of overall capital formation. The Centre's capex has risen continuously from 1.7% of gross domestic product (GDP) during fiscal 2016-2020 to 3.1% of GDP budgeted for this fiscal. This has been spent on rural roads, highways, airports and railways to improve physical connectivity, reduce logistics costs and enhance competitiveness. As a result, gross fixed capital formation has improved from 27.3% of GDP in fiscal 2021 to 30.1%...