13 major states have financial room to invest x in FY23: Icra

17 Oct 2022 CW Team

Icra reported that 13 significant states, including West Bengal, Tamil Nadu, and Gujarat, had a staggering fiscal space of Rs 7.4 lakh crore for capital spending in the current fiscal, 81% higher than the past fiscal.

The 13 states, who will account for around 85% of India's GDP in 2020–2021, spent Rs 4.1 lakh crore on capital projects in the previous fiscal year. The rating agency also stated that their budget estimate for capital expenditures for current fiscal is Rs 5.8 lakh crore.

The agency's analysis is based on 13 states: West Bengal, Punjab, Rajasthan, Tamil Nadu, Telangana, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, and Maharashtra.

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