States’ capital expenditure likely rose by over 19% on-year in 2023-24 compared with a 15% rise in 2022-23, supported by their robust revenue growth and the Centre’s interest-free capex loans. Going by the trends seen in a dozen states, in aggregate states might have invested substantially more in FY24 than the Rs 6.82 trillion in FY23. On the other hand, the Centre’s capex has met the FY24 revised estimate of Rs 9.5 trillion, official sources recently said. Central public-sector entities – companies and departmental agencies (CPSEs) – achieved 109% of their combined capital expenditure target for FY24 by investing Rs 8.05 trillion, an all-time high.