Fall in capital expenditure indicates Congress govt's shrinking space to create assets. In contrast, Rs 52,000 cr is earmarked for 5 guarantees promised to voters before state polls.
Last 20 years' data shows capex share in spending has risen since 1st term of Modi govt in 2014-15 & that of subsidies has dropped. Under UPA between 2004-2014, subsidies rose while capex fell.
Studies by Bank of Baroda find Centre on track to meet capex target for this fiscal. There’s wide disparity in states’ performances but upcoming polls haven’t derailed the capex process.
Better-than-expected GDP growth in FY23 made possible by 6.1% jump in January-March quarter. Private consumption revival, sustained investment growth key to maintaining momentum.
While a higher capital outlay has been budgeted for FY 23-24, trends of last FY suggest states have underspent on capex & are unlikely to achieve their targets for 2022-23.
Capex was flat over FY19 to FY21 and grew 16% in FY22. The forecasts are for 8 state owned enterprises and 21 privately held Fitch-rated corporates in India.
In commercial areas, arcades can protect people from the sun. Remarkably, the Fort area in Mumbai and Connaught Place in Delhi, both built in the early 20th century, have these features.
Air India’s new policy, effective from 2 May, introduces new weight limits for tickets in each of the different 'fare families' — Comfort, Comfort Plus, and Flex.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
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