Analysis of Budget 2024, Part 2: The Real Reason Behind Increase in Capital Expenditure
Union Budget documents show that the budget outlay this year is just 6.1% above last year, which means it is stagnant in real terms. Within the limited budget outlay, Finance Minister Nirmala Sitharaman has announced a hike in capital expenditure (or capex) of 16.9%. What is the real reason behind this increase?