NEW DELHI: The total cost of projects sanctioned by banks and financial institutions during 2022-23 increased to a record high of Rs 2,66,547 crore, highlighting the effect of the government’s efforts to push capital expenditure.
A Reserve Bank of India (RBI) paper showed that the infrastructure sector continued to attract the maximum capex projects, led by roads, bridges and power sectors.
“The government’s thrust on capex, besides various policy initiatives to revive the investment cycle, and improved economic outlook provided a conducive environment for private corporates to undertake fresh capital investment,” according to the paper. State-wise distribution showed that the top five states – Uttar Pradesh, Gujarat, Odisha, Maharashtra and Karnataka – together accounted for 57.2% share in total project cost during 2022-23,
