Budget 2023: Capex push to safeguard growth from global headwinds

The centre has been able to spend 65.4 per cent of its capex allocation for FY23 during April-December period against 70.7 per cent during the same period in FY22

Union Finance Minister Nirmala Sitharaman on Wednesday raised capital expenditure (capex) by 37.4 per cent for financial year 2023-24 (FY24) to Rs 10 trillion over the Revised Estimates (RE) for FY23 to continue the public investment-led growth push amid growing global headwinds.

“Investments in infrastructure and productive capacity have a large multiplier impact on growth and employment. After the subdued period of the pandemic, private investments are growing again. The Budget takes the lead once again to ramp up the virtuous cycle of investment and job creation,” Sitharaman said in her Budget speech.

The Budget also continued the 50-year interest