Andhra Pradesh leads in capital expenditure spending in FY24

Andhra Pradesh has spent over half of its budgeted capital expenses for this fiscal year, surpassing industrially-rich states. The government is heavily investing in infrastructure development, including tunnels, roads, airports, schools, and hospitals. The state has spent Rs.12,669 crore on capital expenditure between April and June. This accounts for 41 percent of the capital expenditure budget for the current year. In the previous year, Andhra Pradesh was the worst performer in spending, only accounting for 23 percent of its budgeted capital expenses. However, this year, it has exceeded the targets by spending over half of the Rs. 31,061 crore budgeted for capital expenses. The growth in capital expenditure is driven by strong tax collections and a reduction in expenditure on subsidies and salary payments in the first quarter.