Andhra Pradesh outperforms in capex spends in FY24
Over half of the Rs. 31,061cr. capital expenses budget has been spent on infrastructure projects such as tunnels, roads, airports, schools, and hospitals
- Andhra Pradesh
NewsTAP Bureau- Updated On:1 Dec 2023 10:31 AM GMT
AMARAVATI: Andhra Pradesh has outperformed industrially-rich states in meeting budgeted capex targets, spending over half of the Rs. 31,061cr. budgeted for capital expenses this fiscal year.
The Andhra Pradesh government, according to senior YSRCP leader and Rajya Sabha MP Vijayasai Reddy, is investing heavily in hard infrastructure development.
Over half of the Rs. 31,061cr. capital expenses budget has been spent on infrastructure projects such as tunnels, roads, airports, schools, and hospitals which are changing the face of the State, according to Vijayasai Reddy.
According to data from the Comptroller and Auditor General of India (CAG), Andhra Pradesh spent Rs.12,669 crore on capital expenditure between April and June. The state's capital expenditure budget for FY24 is accounted for by it at 41 percent.
Andhra Pradesh, which accounted for only 23 percent of its budgeted capex in FY23, was the worst performer in spending. However, Andhra Pradesh exceeded industrially-rich states' budgeted capex targets, spending over half of the Rs. 31,061cr. budgeted for capital expenses in FY24.
Capex growth appears to be fueled by robust tax collections and a contraction in expenditure, particularly towards subsidies and salary payments in the first quarter.
