New Delhi, Feb. 3 -- Capital expenditure (Capex) outlay has been raised sharply to Rs 12.2 lakh crore, reflecting the government's focus on infrastructure-led development, said V. Vualnam, Expenditure Secretary while outlining key Budget priorities.

The Expenditure Secretary said the capital expenditure has a strong multiplier effect on growth and plays a crucial role in nation-building. "The implementation will be closely monitored to ensure timely creation of infrastructure assets on the ground," he said.

"At the same time, the government remains focused on maintaining macroeconomic stability. The fiscal deficit is on a consolidation path, inflation is moderating, and debt-to-GDP has been adopted as a key indicator for monitoring publ...