Union Budget 2024: India's infrastructure development is a key priority for the government, aiming to become the world's third largest economy by 2030. The government has implemented various initiatives such as the National Infrastructure Pipeline, National Monetization Plan, and the National Investment and Infrastructure Fund to promote infrastructure development. To attract long-term investment, a tax incentive provision was introduced in the Income-tax Act, providing complete tax exemption for Pension Funds and Sovereign Wealth Funds investing in infrastructure.