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#SHOCKER !!
#Budget2023 #CAPEX growth of 30% Year over Year is just a game of #Smoke & #Mirrors (the hallmark of #Modinomics) .... if you recall, I mentioned that "Devil Lies in the Detail"
Entire Story in 1 Chart. Combines Central Govt & PSU Capex excluding dirty tricks.
#Budget2023 #CAPEX growth of 30% Year over Year is just a game of #Smoke & #Mirrors (the hallmark of #Modinomics) .... if you recall, I mentioned that "Devil Lies in the Detail"
Entire Story in 1 Chart. Combines Central Govt & PSU Capex excluding dirty tricks.
@nsitharaman budget numbers for CAPEX includes items below
1) 50yr Loans to the States (much of this is consumption by state & double counted)
2) Loans to Food Corp India (Rations & MSP)
3) Capital Infusion is Loss making PSUs to pay Salaries & O/p Losses (BSNL, Air India)
1) 50yr Loans to the States (much of this is consumption by state & double counted)
2) Loans to Food Corp India (Rations & MSP)
3) Capital Infusion is Loss making PSUs to pay Salaries & O/p Losses (BSNL, Air India)
These 3 items are NOT Capex .... so when does an Apples to Apples comparison, these adjustments needs to be made...
In short Central Govt & Off-balance sheet or PSU Capex is ONLY 3.8% of GDP (Lower than pre-covid) vs say 4.5% of GDP in FY10
In short Central Govt & Off-balance sheet or PSU Capex is ONLY 3.8% of GDP (Lower than pre-covid) vs say 4.5% of GDP in FY10
