Telecom, railways, among others, go slow on capex – Times of India-OxBig News Network

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NEW DELHI: The telecom department and the ministries of defence, railways and highways are among the major heads that have seen lower capital expenditure, with the department of economic affairs (DEA) too going slow during the fiscal year up to Nov.
Data available on website of the controller general of accounts showed that during April-Nov, the latest period for which numbers are available, the department of telecommunications (DoT) had spent only 6% or Rs 5,424 crore of its annual allocation of Rs 84,496 crore, A bulk of the spending that is proposed is for support to public sector undertakings, which was not released until this period. The funds to PSUs are linked to milestones and their requirements and there was a major spike in the funds earmarked for them for the current financial year.
The other is the department of economic affairs, which has spent 4% or Rs 2,948 crore of the Rs 66,197 crore, a bulk of which is for “other central sector expenditure” but it is to be used as and when required.
Lower govt capex in seen to be one of the reasons for slowdown in economic growth. Govt has attributed the lower spend to elections during the first quarter. During Apr-Nov, Centre’s capex was estimated at 49% of the Rs 11,11,111 crore allocated for the year. During the same period last year, 59% of the Rs 10,00,374 crore was used for capex. The difference works out to Rs 72,195 crore.
Among the major spenders, the defence ministry’s capex was pegged at 41% of the Rs 1.7 lakh crore allocated for the year, compared with 53% spent last year.
But the real surprise in the pack is the highways ministry, which over the past few years had sought additional funds. During April-Nov 2023, it had spent 54% of its capex allocation (Rs 1,46,827 crore of the Rs 2,72,241 crore) against last year’s 68%. This is largely to do with fewer awards, something that PM Narendra Modi flagged. Railways had spent lower too – 67% versus 71%.

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Telecom capital expenditure,Public sector undertakings funding,Indian Railways capex,Economic growth slowdown,Defence ministry spending

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