The federal government announced it would contribute $45 million to the project to upgrade the Ravenswood Interchange.

Nationals Senator for Victoria Bridget McKenzie said she was "rapt" to announce the funding.

"Anyone who has stood at that corner has seen the trucks back up there and knows what a potential death trap that site can be," she said.

"Those trucks can be sitting there waiting to get across for up to 20 minutes to get across. 

"It's great news for the local community and businesses."

The region is also a winner in Roads to Recovery funding. 

The City of Greater Bendigo will receive $3.2 million, Loddon Shire will get $3.3 million, Macedon will receive $2 million, Mitchell Shire will get a boost of $1.6 million and Mount Alexander Shire roads will receive $1.5 million.

"That's a program which relies on strong partnerships between federal government and local councils, working together to provide critical infrastructure, not only to get our food and fibre to ports and market but also for footy teams to compete against each other on Saturday," she said. 

Labor Member for Bendigo Lisa Chesters was less enthusiastic about the budget's benefits.

"I believe central Victorians have been hit with another disappointing federal budget which fails to create new jobs and job opportunities in our region," she said.

"It continues the Abbott government's cruel cuts regime and central Victorians have every right to feel disappointed and ripped off."

Ms Chesters said "a significant amount of local mums in Bendigo" would be worse off under the federal government's changes to paid parental leave. 

New parents who are eligible for paid parental leave schemes from their employers will be booted off government schemes as a budget cost saving measure.

Young jobseekers are breathing a sigh of relief - the government has dialled back its original proposition to make unemployed people under the age of 30 wait six months before accessing the dole to four weeks. 

"It's good to see the government has backed down on this," Ms Chesters said.

"The government has acknowledged that as a cruel measure but we have failed to see is a plan to create jobs for young people."

Ms Chesters dismissed the government's new "Stronger Communities" fund, which will allocate each electorate $150,000 for investment in local infrastructure projects as a "token gesture".

"It's a small amount of money and it's not going to achieve the sorts of projects the government is suggesting it will achieve," she said.

"We know just to upgrade the diving boards at the Bendigo Aquatic Centre will cost $200,000."