Many states to miss capex targets this fiscal: Icra

According to the agency, these 23 states' combined capital outlay and net lending stood at Rs 3.2 lakh crore as of December 2022, which is only 46 per cent of their FY23 budget estimates. Consequently, a substantial Rs 3.8 lakh crore of additional spending is required in Q4 to meet their budgeted capex of Rs 7 lakh crore.

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