Gross fixed capital formation (GFCF), a proxy for infrastructure investment, contributed 30 per cent to gross domestic product (GDP) in Q2FY24, as against 29.3 per cent in the previous quarter.
Investment growth above 30 per cent is considered important for driving economic growth.
The rise in the share of GFCF in GDP comes on the back of the Centre's increased capex, which grew 43.1 per cent to ₹4.9 trillion till Q2FY24 from ₹3.42 trillion in the same period last year, the data sourced from the Controller General of Accounts (CGA) showed.
"The combined capex of the Union and 26 states grew by 26.7 per cent Y-o-Y during Q2FY24 in view of the impending elections in various states," said Devendra K Pant, chief economist, India Ratings.
Bu hikaye Business Standard dergisinin December 01, 2023 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin December 01, 2023 sayısından alınmıştır.
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