Capex Spend Meets 80% Outlay As Of Early February: India Offical

The government has achieved 80% of its capital expenditure outlay as of early February and is on track to meet its revised outlay, according to a person with knowledge of the matter.

Government capital expenditure was revised downwards for FY24 from its Rs 10 lakh crore target to Rs 9.5 lakh crore. The capital expenditure target for FY25 is set at Rs 11.11 lakh crore.

As of December 2023, the government had spent Rs 6.7 lakh crore of its capex target for FY24, with December alone seeing a jump in expenditure to Rs 87,985 crore from Rs 38,721 crore in November 2023.

Small Savings Collections Rises

NDTV Profit has also learned that the government has reached 64% of the net collections amounting to Rs 2.77 lakh crore under the head of the small savings scheme for FY24.

Securities raised against small savings help the government finance its fiscal deficit, which has been revised to 5.8% of the GDP for FY24.

Small savings should achieve budgetary estimates, an official said, adding that Rs 90,000 crore has been collected through the senior citizen scheme as of early February 2024.

The government's recently announced Mahila Samman Savings Scheme has collected Rs 19,000 crore in the form of deposits.

And the monthly income scheme has seen Rs 20,000 crore in collections, according to the same person.

Small savings schemes are a list of 12 savings instruments, such as the National Savings Certificate, the Public Provident Fund, and the Kisan Vikas Patra, among others.