Data recap: Capex push, road accidents, Ambani’s investment
Mint in the week gone by. The government is on track to meet its ambitious aim of ₹10 trillion capital expenditure. Latest data show road accidents have become more fatal in recent years.
Meanwhile, Reliance Industries chairman Mukesh Ambani has revealed his investment plans for West Bengal. To support the Indian economy, the central government announced a sizable ₹10 trillion capital expenditure in the Budget for 2023-24. While the target looked ambitious, the government has walked the talk by having exhausted half the budgeted amount in the first half of the current financial year.
For the rest of the year, the government will be able to meet its record capex targets as well as the fiscal deficit target, boosted by record tax collections for the year so far, Mint reported, quoting officials. Road accidents in India have been becoming more lethal over time, with more than one-third of all accidents in 2022 killing at least one person. The biggest reason for fatalities and injuries is overspeeding, a Mint analysis showed.
Though the 2019 amendments to the Motor Vehicles Act introduced stricter penalties on traffic offences, the flouting of rules remains common. Nearly one-third of the road accident victims were not wearing helmets, according to transport ministry data. ₹20,000 crore: That’s the worth of investments Reliance Industries chairman Mukesh Ambani plans over the next three years in West Bengal.
This will be on top of the ₹45,000 crore that the conglomerate has already invested in the state, Ambani said at the 7th Edition of Bengal Global Business Summit in Kolkata. The investment by the conglomerate will majorly be done in three areas: telecom, retail and bio energy. While many companies are likely to offer a
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