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HomeBuisnessOn track: MoRTH, railways to use more than 75% of capital by...

On track: MoRTH, railways to use more than 75% of capital by third quarter of FY 2023-24 Pi News

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According to official data, the Ministry of Road Transport and Highways is in the lead with about 84 percent of the allocated funds.  (Image: CNBCTV18.com)

According to official data, the Ministry of Road Transport and Highways is in the lead with about 84 percent of the allocated funds. (Image: CNBCTV18.com)

Together, the two major infrastructure ministries have been allocated Rs 5.2 crore and spent Rs 4.1 crore, which is 80 percent by the end of December.

Two major infrastructure ministries – road transport and highways and railways – absorbed more than 75 percent of capital expenditure in the first nine months of the current fiscal year. According to official data, the Ministry of Road Transport is ahead with about 84 percent of the funds spent.

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The railways, which received Rs 2.62 crore for the current financial year, spent Rs 1.95 crore — about 75 percent by the end of the third quarter, the ministry said.

Against an estimated expenditure of Rs 2.58 crore for 2023-24, the Ministry of Road Transport and Highways (MOH) has spent Rs 2.15 crore (84 per cent) till December 2023. 25.2 million rubles were allocated to the two ministries. It has spent Rs 4.1 crore, which is around 80 percent by the end of December.

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The Finance Ministry has shared annual capital figures and achievement of annual capital targets of selected central public sector enterprises (CPSEs) of Rs 100 crore and above.

“Achievement against estimated expenditure of Rs 7.33 crore (budget estimates) was Rs 5.51 crore (approx) – approximately 75.09 per cent as on December 31, 2023. The same amount was Rs 4.50 crore compared to Rs 2-6 crore in 2023. million – 67.99% – in the period until December 2022,” the document says.

Access to capital before the third quarter was crucial as India has Lok Sabha elections at the end of the fourth quarter of the ongoing financial year. Elections are held between April and May, with the term of the Lok Sabha ending in May.

In the interim budget presented earlier this month, the Finance Ministry continued its focus on infrastructure development by allocating a whopping Rs 11,11,111 crore. Estimated spending for 2024-25 is 3.4 percent of GDP.

Among the ministries, the highest amount is allocated to defense at Rs 6.2 crore, followed by MoRTH at Rs 2.78 crore. Railways, ranked third, contributed Rs 2.55 crore.

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