States to miss fiscal capex targets amid revenue decline, polls

27 Nov 2023 CW Team

According to an analysis, it is anticipated that several states will fall short of achieving their capital expenditure targets for the ongoing fiscal year due to elections and a decline in revenue. Aditi Nayar, Chief Economist at Icra Ratings, mentioned that a significant reduction in revenue receipts will result in a substantial contraction in state capital expenditure. She noted that during the first half of FY24, state capital expenditure reached a record 35 per cent.

Nayar stated that to meet their Budget estimates, 21 states, for which capital expenditure and other macro data are available, will need to ensure that the capital expenditure run rate is maintained at 28 per cent in the second half. However, she expressed skepticism about this possibility, citing the likelihood of the model code of conduct taking effect in the March quarter before the general elections. During the April-September period, the combined revenue and fiscal deficits of these 21 states increased to Rs 700 billion and Rs 3.5 trillion, respectively, from Rs 500 billion and Rs 2.4 trillion, respectively, in the year-ago period.

It's important to note that the report excludes Arunachal Pradesh, Assam, Goa, Manipur, Meghalaya, Mizoram, and Nagaland.

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..