Telangana scores 190 percent rise in capital expenditure in 2023-24 H1

Telangana was ranked among the top three in terms of the capital expenditure during last two fiscals

Hyderabad: Telangana continues to be a leader in capital expenditure, reporting a staggering 190 per cent rise for the first half of the 2023-24 financial year compared to the corresponding period of the previous fiscal (2022-23). Interestingly, Telangana was ranked among the top three in terms of the capital expenditure during last two fiscals.

According to a fiscal review report published by leading financial daily The Financial Express, capital expenditure by 18 State governments surged by 56 percent in the first half of the current financial year compared to a 2 per cent rise in the previous financial year. Andhra Pradesh secured the second position with a 142 percent increase in terms of capital expenditure, followed by Odisha with 87 percent and Uttar Pradesh with 85 percent hike.

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However, the neighbouring Karnataka saw a 32 percent decline in capital expenditure during the same period. The Centre had set a 43 percent growth target in capital expenditure during the first half of the current fiscal and achieved around 49 per cent of its annual capex goal in April-September.

As per a report published by the Reserve Bank of India earlier this year, the capital expenditure of Telangana has increased by more than five times within last eight years, from Rs 11,583 crore in 2014-15 to Rs 61,343 crore in 2021-22.

Taking to ‘X’ (formerly Twitter), IT and Industries Minister KT Rama Rao shared the news report and said Telangana was leading the way with a remarkable 190 percent surge in annual capital expenditure in the first half of the current financial year. “This impressive feat outshines 18 big states in India included in the review. Kudos to the stable government and efficient administration under CM KCR’s leadership!” he posted.