Capital expenditure by CPSEs at 68% of FY23 target by December

Capital expenditure (capex) by large central public sector enterprises (CPSEs) — with a target of Rs 100 crore or more — touched 68 per cent of the annual target of Rs 6.62 trillion during the first nine months of FY23, according to sources.

During the same period a year ago, CPSEs were able to exhaust only 63.29 per cent of the full-year target.

Petroleum CPSEs and National Highways Authority of India (NHAI) have so far driven the capex among CPSEs.

NHAI achieved 90 per cent of its annual capex target of Rs 1.34 trillion by December while Indian Oil Corporation