New Delhi: The government is committed to the budgeted Rs 12.22 lakh crore capital expenditure in the current fiscal despite the fiscal stress arising from the ongoing West Asia crisis, a senior official said on Friday.
Expenditure Secretary V Vualnam said the upcoming few months, the next quarter and the year ahead would be very difficult to envisage with lots of possible stress points.
Also Read: West Asia conflict may trigger $800 bn capex boost for India, but oil and fertiliser risks remain: Morgan Stanley
" So the fiscal stress is indeed very much a reality, but at the same time the priority sectors... the CAPEX would really be a priority item which we would like to preserve and ensure that it continues at the budgeted level," Vualnam said at the ICPP Growth Conference organised by the Ashoka University.
He said highways, railways, shipping, ports, and urban development sectors would be the focus areas for FY'27 capex.
Also Read: FY27 capex growth of states pegged at 8–10%: report
Stating that the current global uncertainties have thrown a "very challenging situation" for India, he said, the government has been proactive in trying to tackle each situation with agility.
But India's fiscal prudence has put the country on a very good footing in the current unpredictable times, he added.
Expenditure Secretary V Vualnam said the upcoming few months, the next quarter and the year ahead would be very difficult to envisage with lots of possible stress points.
Also Read: West Asia conflict may trigger $800 bn capex boost for India, but oil and fertiliser risks remain: Morgan Stanley
" So the fiscal stress is indeed very much a reality, but at the same time the priority sectors... the CAPEX would really be a priority item which we would like to preserve and ensure that it continues at the budgeted level," Vualnam said at the ICPP Growth Conference organised by the Ashoka University.
He said highways, railways, shipping, ports, and urban development sectors would be the focus areas for FY'27 capex.
Also Read: FY27 capex growth of states pegged at 8–10%: report
Stating that the current global uncertainties have thrown a "very challenging situation" for India, he said, the government has been proactive in trying to tackle each situation with agility.
But India's fiscal prudence has put the country on a very good footing in the current unpredictable times, he added.
