Central CPSEs capex up by 21% y-o-y in FY22
The combined capital expenditure (capex) by 40-odd large central public-sector enterprises (CPSEs) and departmental undertakings rose by 21 per cent year-on-year to Rs.5.6 trillion in 2021-22, reported Financial Express. Capex by these state-run entities, each with annual investment budget of more than Rs.5 billion, was 97 per cent of their aggregate capital expenditure target of Rs.5.8 trillion for 2021-22. During the fiscal, the National Highways Authority of India (NHAI) was the largest investor by deploying capex of about Rs.1.6 trillion, 21 per cent more than its annual target of Rs.1.3 trillion and 26 per cent more than a year ago. Railways invested Rs.1.5 trillion or 79 per cent of the full year target, while Indian Oil Corporation spent Rs.309.2 billion or 108 per cent of its annual target. Oil and Natural Gas Corporation (ONGC) reported capex of Rs.270 billion, followed by NTPC with Rs.254.2 billion. Coal India also exceeded its investment target of Rs.146.8 billion for 2021-22 with capex of Rs.148.3 billion. Nuclear Power Corporation invested Rs.142.3 billion or 80 per cent of its full fiscal target of Rs.178.1 billion.