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Capital expenditure by central public sector enterprises are on track to meet its target for the year 2023-24, the Ministry of Finance said on Wednesday.
During April-September, the first half of the fiscal year, 52 per cent of the Budgeted target has been achieved with a spending of 3.79 lakh crore. For the entire financial year ending March 2024, capital expenditure by central public sector enterprises is pegged at 7.33 lakh crore. In the same period of 2022-23, the capex spending was 43 per cent of the annual target. The continued push on infrastructure building through higher capital expenditure allocation by the central government is to keep India's economic growth momentum intact. The central government is ensuring that the public expenditure continues to grow to have a desired multiplier effect on all the sectors, Union Finance Minister Nirmala Sitharaman had said earlier this year. In Budget for 2023-24, capital investment outlay was increased steeply for the third year in a row by 33 per cent to Rs 10 lakh crore. The capex allocation has grown four times since 2015-16, from Rs 2.5 lakh crore to Rs 10 lakh crore (budget estimate for 2023-24). (ANI)
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