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

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..