Capex spending by states gathers momentum

Project completion rates for all states up 104% in the Apr-Dec period of FY17

State governments stepped up their capital spending in 2016-17. At the aggregate level, project completion rates for all states is up 104 per cent in the April-December period of the current financial year, compared to the same period in the previous financial year, estimates Deutsche Bank.
 
But, this growth is largely driven by five states, namely Maharashtra, Uttar Pradesh, Telangana, West Bengal and Punjab. Put together, these states account for 83 per cent of the total value of projects completed by states in the first nine months of the current financial year. On the other hand, states like Gujarat,