As part of its record capital expenditure target of Rs 10 lakh crore for 2023-24, the Centre is extending long-term, interest-free loans to the tune of Rs 1.3 lakh crore to states for their own capex needs
Nearly half of the incremental capex in FY2023 was on account of Uttar Pradesh and Maharashtra, according to Icra, , rating agency, icra, state capital, financial year, capex loans
The scheme for financial assistance to states for capital investment/expenditure, introduced by the Centre in 2020-21 amid the coronavirus pandemic, has played a vital role in stimulating capital spending by the states.
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Accordingly, the states in aggregate would have to invest `6.12 trillion in FY24, excluding capex support given by the Centre and their debt repayments.