Page 72 - economic_survey_2021-2022

46 Economic Survey 2021-22

2.5 Building on the same approach, the Union Budget 2021-22 had enhanced the budget
outlays for the more productive capital expenditure. The Government budgeted for a
34.5 per cent growth in capital expenditure over 2020-21 BE – with emphasis on railways, roads,
urban transport, power, telecom, textiles and affordable housing amid continued focus on the
National Infrastructure Pipeline. The National Infrastructure Pipeline covering 6835 projects was
expanded to 7400 projects in Budget 2021-22. In order to unlock the domestic manufacturing
potential across sectors, such as renewable energy, heavy industry, agriculture, automotive and
textiles, Budget 2021-22 launched PLI schemes for 13 sectors, with an outlay of `1.97 lakh crore,
for a period of 5 years starting from 2021-22. All these initiatives are expected to collectively
generate employment and boost output in the medium to long term through multiplier-effects. The
stimulus measures announced during the year 2021-22 have continued the emphasis on liquidity
enhancing and investment boosting measures such as the PLI Scheme, credit guarantee schemes
and export boosting initiatives to support the reviving economy, apart from providing free food
grains to the poor (Figure 2E). The details may be seen at Box 1. In line with the agile approach,
this mix can be changed again as per the requirement of the evolving situation.

Figure 2: Changing mix of stimulus announcements in 2020-21 and 2021-22

2A. March 2020 (`1,92,800 crore) 2B. May - June 2020 (`11,85,561 crore)

2C. October 2020 (`73,000 crore) 2D. November 2020 (`2,65,080 crore)