Budget 2022-23: FY23 capital expenditure target may top Rs 6.5 trillion

During pre-Budget consultations, industry bodies and economists have advised the finance minister to keep the spending tap open

With public investment in high-multiplier infrastructure projects being its main plank for economic recovery, the Modi government is likely to set a capital expenditure (capex) target of more than Rs 6.5 trillion for 2022-23 (FY23) in the upcoming Budget, Business Standard has learnt. The main Budget numbers are still being finalised.

For the current year (FY22), there is concern among the Budget-makers in the finance ministry that the capex target may not be met. However, the shortfall is likely to be negligible, sources said.

“A lot depends on the current January-March quarter. If there aren’t many disruptions in February and