CPSEs’ capex upward push 6.5% to Rs 50,206 crore in April – Business Information

Despite the ongoing general elections, the Central public-sector entities’ – companies and departmental agencies — investment rose 6.5% on-year to Rs 50,206 crore in April, reflecting the government’s thrust on investment-led economic growth.

The Railway Board invested Rs 26,641 crore in projects in April, 10% more than in the year-ago month. The Railways have been investing heavily in capacity improvement works such as doubling/quadrupling, electrification and introducing high-speed trains.

The National Highways Authority of India’s capex rose 4% annually to Rs 6,645 crore in April. The Centre’s large capex push through railways and NHAI also aids efforts to create more jobs.

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Fuel retailer-cum-refiner Indian Oil Corporation achieved a capex of Rs 2,423 crore in the first month of FY25, an increase of 8% on the year.

ONGC, the top state-run player in oil and gas exploration, achieved a capex of Rs 2,318 crore in April, 7.5% more than the corresponding month a year ago.

Power generation major NTPC has invested Rs 2,083 crore in April 2024, up 9% on year. Coal India’s capex was up 7% on-year to Rs 1,073 crore in April this year.

Thanks to a 9% growth in gross fixed capital formation led by public capex, India’s GDP grew by 8.2% in FY24, exceeding the expectations of both domestic and multilateral institutions.

The CPSEs achieved 109% of their combined capital expenditure target for FY24 by investing Rs 8.05 trillion, an all-time high.

The CPSEs have set a combined target of investing Rs 7.8 trillion in FY25.

Buoyant on a rising economy and demand aided by various government initiatives, infrastructure and allied firms are hiking their capital expenditure for FY25. The current fiscal year is expected to be capex intensive as private firms embark on capacity addition and expansion through organic and inorganic routes.