The GoI's focus on increasing capital expenditure (capex) to address infrastructure and energy deficits has been significant. Public capex as a percentage of GDP has risen from 1.65% in 2019-20 to 3.2% in 2023-24, with its share in public expenditure increasing from 12.5% to 21.6%. This strategy, pursued even during the pandemic, has compensated for sluggish private investment, contributing to India's high growth rate above 7%. However, there's been a decline in revenue expenditure, affecting sectors like education and health, necessitating active policy measures like privatisation and asset monetisation to sustainably manage deficits and fund development.

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