According to the data released by the Controller General of Accounts (CGA) on Friday, capex in October contracted 8.4 per cent while revenue expenditure, excluding interest payments, rose 41.9 per cent during the month.
During April-October period, capex contracted 14.7 per cent while revenue expenditure grew 8.6 per cent, leading to the total expenditure expanding 3.3 per cent.
Nominal GDP growth in the second quarter and the first half of FY25 amounts to only 8 per cent and 8.9 per cent respectively. "If this trend persists, even the growth of the government's gross tax revenue may be adversely affected," DK Srivastava, chief policy advisor, EY India said.
This story is from the November 30, 2024 edition of Business Standard.
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This story is from the November 30, 2024 edition of Business Standard.
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