The central government has front-loaded the capital expenditure in the current financial year, spending ₹1,59,790 crore in April, up 61% from ₹99,235 crore spent in the corresponding month of the previous year. 

Central infrastructure spending done in April is 14.3% of the budget estimate of ₹11.21 lakh crore for the current financial year. 

It may be noted that the capital spending has gathered a massive momentum since March itself, when the government spent a record ₹2.4 lakh crore, surpassing the FY25 target of ₹10.18 lakh crore (revised estimate), spending a total of ₹10.52 lakh crore. It may, however, be noted that the budget estimate for capex in FY25 was ₹11.11 lakh crore, which was pruned in the revised estimates to ₹10.18 lakh crore. 

“It is evident from the numbers that the government has front-loaded the capital expenditure in the current financial year. Last fiscal, the spending in the initial months was restrained due to elections,” said D K Joshi, chief economist, CRISIL. 

The Ministry of Railways has spent ₹30,968 crore in April, which is 12% of the budgetary allocation of ₹2.52 lakh crore for the current financial year. The Ministry of Road, Transport and Highways (MoRTH) has spent ₹55,326 crore in April, or 20% of the FY26 budget estimates of ₹2.72 lakh crore, towards capital expenditure. Spending by the MoRTH comprises 54% of the total infrastructure spending done by the government in April. 

The Ministry of Housing and Urban Poverty Alleviation has severely lagged in capital expenditure. Against an allocation of ₹37,623 crore, the ministry could spend only ₹60.55 crore in April. The telecom ministry has spent ₹16,000 crore in the month of April, which is 30% of the allocation of ₹51,784 crore for the fiscal year.