Budget 2024: While capex spends are indeed increasing year on year - there are expectations of the interim budget on Thursday carrying on with this annual tradition and announcing a hefty increase in capex once again - the funding is increasingly coming from resources outside the budget exercise. Along with this, India’s public debt is widely expected to increase this year to over 80% of GDP (the IMF has projected government debt for FY24 at 82% of GDP), consequently increasing interest payments and affecting government spending.