MUMBAI: Indicating durable recovery to the pre-pandemic levels, the public Capex cycle has turned the corner with the Central and states capital expenditure nearly crossing FY20 levels, growing faster than the gross domestic product rate, according to a report.
While the Central Capex has already crossed the prepandemic trendline, states too should do so if the budgetary targets are met, which implies that the pandemic did not cause a major permanent loss in the government Capex in terms of trend, said a Crisil report released on Thursday.
If the budgetary targets for Capex are met by both the Centre and states this fiscal, the prepandemic decadal trend for the overall Capex will be revisited, Crisil said, adding despite a tight fiscal position, the Central Capex grew 31 per cent over the last fiscal and if the trend is maintained, it is set to overshoot by 12 per cent pre-pandemic trend level, and for the states it expects them to meet 80-85 per cent of their Capex target.
This story is from the December 03, 2021 edition of Millennium Post Delhi.
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This story is from the December 03, 2021 edition of Millennium Post Delhi.
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