With a meagre 2.2% rise in capex in H1, 18 states to miss FY23 target
States capital spends inch up just 2.2 per cent in first half of the FY 2022-23 despite massive spike in revenues, says ICRA. These states saw a 27 per cent hike in combined revenues, which narrowed the revenue deficits by 75 per cent during the period
Despite a massive decline of revenue deficits by 75 per cent, 18 states registered a minimal 2.2 per cent growth in their capital expenditure in the first half of FY 23, revealed ICRA ratings on Sunday.
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