Gujarat sets 39% for capital spending, highlights GIFT City growth

An important leader in a part of India called Gujarat talked to people at a big meeting about money.

The meeting was held in a special place called GIFT City, which is like a neighbourhood made just for banks and money companies.

The leader said that this year, a big part of the state's money plan, 39 out of every 100 rupees, will be spent on building things like roads, computer centres and new technology.

He wants the city to help India become a powerful country for money and banking.

Companies that do business there now get a very long holiday from paying taxes, 20 years instead of 10.

That means they can keep more of the money they earn for a longer time.

The city already has banks, insurance companies and even firms that rent out aeroplanes and ships.

The leader also talked about how artificial intelligence, or AI, is changing the way banks work.

He said the place used to be mostly farms and river valleys, but now it has world-class financial buildings.