CEA expects private sector capex to touch Rs.6 trillion in FY23

According to chief economic advisor (CEA) V Anantha Nageswaran, economists’ projections of India’s GDP growth for 2022-23 in the range of 6.5 per cent to 7 per cent looks reasonable. However, risks to six per cent GDP growth estimates for 2023-24 are to the upside. On drivers of economic growth, he stated there has been a threefold increase in capital expenditure (capex) of the public sector in the last 10 years. Capex by the private sector also touched Rs.3 trillion during April-September 2022 and if the pace continues, capex should be Rs.6 trillion by March 2023. The CEA further stated that the country’s current account deficit (CAD) is expected to be 3-3.2 per cent of GDP for 2022-23.

1. https://www.financialexpress.com/economy/private-sector-capex-likely-at-rs-6-trn-in-fy23-cea-v-anantha-nageswaran/2890652/
2. https://www.business-standard.com/article/economy-policy/indian-economy-expected-to-maintain-growth-above-6-5-in-coming-years-cea-122112401240_1.html
3. https://www.business-standard.com/article/economy-policy/india-s-cad-deficit-pegged-at-3-3-2-of-gdp-in-fy23-cea-nageswaran-122112401266_1.html
4. https://economictimes.indiatimes.com/news/economy/policy/india-witnessing-revival-of-private-capital-expenditure-chief-economic-adviser-v-anantha-nageswaran/articleshow/95740651.cms