Capex of 16 states shows robust 21.9% growth in first 5 months of FY19

The total capital spending by these states is budgeted at Rs 4 trillion in 2018-19, roughly 70% of the state capex of Rs 5.75 trillion

Capital spending by 16 large states has grown by a robust 21.9 per cent in the first five months of the current financial year, rising to Rs 963.6 billion from Rs 790.2 billion over the same period last year, an analysis by Business Standard showed. 

This amounts to only 24 per cent of the budgeted capex of these states for 2018-19. By comparison, capital spending (excluding loans) by the Centre has touched 38.1 per cent of its budgeted target for 2018-19 in the first five months. 

These trends suggest that bulk of state capex, which accounts for a lion’s share