Importance The article considers the role of the State in the investment activity of subjects of the Russian Federation. ObjectivesThe paper aims to define the role of public authorities at various levels and of various departmental (industry) affiliations in stimulating the investment activity, as well as to establish the appropriate procedures and regulations governing this activity at the regional level. Methods We used the system, statistical, and logical analyses, as well as descriptive, comparative, and econometric methods of data processing and systematizing. Results We identified the importance of budgetary investment in the structure of the investment activity in the constituent entities of the Russian Federation. Conclusions and Relevance We conclude that budget investments of the consolidated Federal budget play a major role in enhancing investment activities at the regional level because they create the necessary infrastructural conditions for private investments in developing regions and allow for investment under the mechanism of public-private partnership. The results obtained can be used in the development of regional legal acts aimed at regulating investment activity, as well as an adjustment to the existing instruments. In addition, the results of the article could serve as a basis for further research in the area of formulation and evaluation of investment activities at the level of the constituent entities of the Russian Federation.
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