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Capex to rise 29% for 13 states, fiscal deficit to widen in FY24: Icra
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ICRA.
“The anticipated YoY surge in capex benefits from the prescient support extended by the Government of India (GoI) to the state governments through the increase in the allocation for the Scheme for Special Assistance to States for Capital Investments to Rs. 1.3 lakh crore in FY2024 BE from the Rs.
0.8 lakh crore loans disbursed to them in FY202,” said Aditi Nayar, chief economist, Icra.
The 13 states, namely, Andhra Pradesh, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Punja, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal, had set an ambitious target of Rs 6.7 lakh crore for FY24 capex spending.
States have been frontloading their capital spending, given the assistance from the Centre.
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