Data monitor: States’ FY22 capex target difficult to meet

India’s top 21 states – accounting for more than 90% of aggregate state capital expenditure – are aiming for an ambitious 36% rise in capital outlay this fiscal (to Rs 6 trn) over revised estimates of FY21 (Rs 4.4 trn).

This target seems too high, CRISIL has said.

Like last year, which saw a 11% rise on-year over a low base of FY20, it expects 11-13% rise in capex this fiscal, assuming that states spend 80-85% of the budgeted estimate.