CPSEs achieve 53% of FY23 capex target during April-October 2022

Amid constant push by the government, central public sector enterprises (CPSEs) with an annual capex of at least Rs.1 billion have improved their capital expenditure (capex) during the first seven months of the current fiscal, reported Business Standard. These entities realised 53 per cent of their annual capex target of Rs.6.6 trillion during April-October 2022. In the same period last fiscal, they had achieved about 44.8 per cent of their annual target. During April-October 2022, the National Highways Authority of India (NHAI) achieved 71.6 per cent of its annual capex target of Rs.1.3 trillion, while capex of Railway board excluding Dedicated Freight Corridor Corporation of India (DFCCIL) and Kolkata Metro Rail Corporation (KMRCL) touched 47.2 per cent of the annual target of Rs.2.3 trillion. While Oil and Natural Gas Corporation (ONGC) achieved 48 per cent against its budgeted annual capex target of Rs.299.5 billion till October 2022, Hindustan Petroleum Company (HPCL)’s capex touched 66 per cent of its annual target. Indian Oil Corporation spent 68 per cent of its annual target of Rs.285.5 billion during the period under review.

References
1. https://www.business-standard.com/article/economy-policy/capex-by-cpses-accelerates-to-53-of-annual-target-during-apr-oct-period-122111700997_1.html