Capex push may continue
The forthcoming Union budget is expected to focus on boosting capital expenditure in 2023-24 too, as has been the case for the past several years.
New Delhi: The forthcoming Union budget is expected to focus on boosting capital expenditure in 2023-24 too, as has been the case for the past several years.
With the Centre bullish on economic growth and buoyed by favourable comments by several global agencies like the World Bank and the International Monetary Fund, calling it a resilient economy, it is betting big on public capital expenditure to push the investment cycle and spur India's economic recovery in the post-pandemic period.
The previous budget for 2022-23 had allotted Rs 7.50 lakh crore as capital expenditure, which was a 35.4 per cent jump over 2021-22.
Capital expenditure relates to funds that are spent on building assets like roads, ports, buildings etc. The economic survey for 2021-22 had noted that capital expenditure had earlier been impacted due to restrictions related to the pandemic, which were in place in 2020-21 and 2021-22.