Union Finance Minister Nirmala Sitharaman addressed the National Council of Confederation of Indian Industry on Saturday and pushed for the industry to not lose the opportunity to reach a high level of industrialisation.

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“I call upon the Indian Industry to participate in the virtuous cycle of investments so that the opportunity to push India to a higher growth orbit as it moves to India@100 is not lost,” she said at the CII event.

Speaking about the Budget 2022 announcement on Tuesday, Sitharaman said, the boost in capex for FY23 will ensure that revival and recovery taking place last for a few years and crowds in private investments.

Her remark came against the backdrop of the outlay for capital expenditure, which has been stepped up sharply by 35.4 percent to Rs 7.50 lakh crore for the financial year 2023 from Rs 5.54 lakh crore in FY22.

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The Finance Minister added that the policy prescription outlined in Budget FY23 focuses on healthy capex spend to boost sectors through a multiplier effect and create assets for the 21st century.

Sitharaman also called for investments from the industry in sunrise and new-age sectors. “We invite industry to partner with government in these areas to lead #India to a higher growth trajectory,” she said.

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Hailing the government’s digital push, the Finance Minister said, digitization has not been one-way street where the government gives the push but there is an amazing readiness with which the citizens have adopted, with across-the-board reception. “We have shown that we don’t just design, but also execute using various digital platforms,” she added.

CII President TV Narendran, Revenue Secretary Tarun Bajaj, Economic Affairs Secretary Ajay Seth and other dignitaries were also present at the event.

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