Opinion Mapping capex by private sector: Well begun
The Ministry of Statistics and Programme Implementation (MoSPI) has released the first ever 'Forward-Looking Survey on Private Sector CAPEX Investment Intentions'. Capex essentially refers to capital expenditure, which means money spent towards the creation of long-term productive assets in the economy. As the survey underscores, 'capex is fundamental to expanding production capacity, thereby serving as a catalyst for accelerated economic growth. This growth, in turn, supports job creation and enhances labour productivity.' For a developing economy such as India, high growth rate in capex is central to achieving the ambition of becoming a prosperous nation and transitioning to becoming a developed country. The survey was conducted between November 2024 and January 2025. The primary objective of this survey is to estimate the capex trends of private corporate sector enterprises for five years: From the past three financial years (2021-22, 2022-23 and 2023-24, in the current instance) along with anticipated capital expenditure for the current year (2024-25, in this instance) and the upcoming financial year (2025-26).
Out of a total of 3,064 responding enterprises, only 2,172 reported their capex data (actual and intentions) for the full five-year period. Even though the survey was conducted under the Collection of Statistics Act, 2008, MoSPI noted that many companies had reservations about sharing data, thanks to concerns relating to legitimacy and cyber-risks. As a result, even MoSPI advises caution when reading the data. 'As this is the first round of the survey, the findings may be seen as indicative and subject to refinement in future iterations,' it says. On the whole, the data shows sharp fluctuations in private capex from one year to another — varying from Rs 3.9 trillion in FY22 to Rs 5.7 trillion in FY23, then falling to Rs 4.2 trillion in FY24 before rising to Rs 6.6 trillion in FY25 and then falling to as low as Rs 4.9 trillion in FY26. The year on year variations are so substantial that one can draw very different conclusions based on the year chosen for analysis. For instance, between FY22 and FY25, the capex grew by 66 per cent but if you add the current year (FY26), the overall growth fell to 23 per cent.
Even so, the survey underscores the existing notion that private sector capex has not grown fast enough. The Union government's capex, for instance, grew by 230 per cent in the five years between FY21 and FY25. The government under Prime Minister Narendra Modi has been trying to incentivise private sector capex because it believes that only when the private sector starts investing can India make the economic transition. To that end, it is a welcome move that the government has now started formally mapping capex by the private sector. In the coming years, it will further help policymakers and corporations in making better choices.
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Hans India
40 minutes ago
- Hans India
MyVoice: Views of our readers 8th June 2025
From Chenab Bridge to Delhi: Kashmir now in the mainstream When the first whistle of a train echoed through the winds of Kashmir, it was not merely a sound but a proclamation of a new India—a moment when the tracks of the railway embraced the paradise nestled in the valley. The Chenab Bridge, the world's highest railway bridge, towering over even the Eiffel Tower, is not just an engineering marvel but a symbol of India's self-reliance and resolve. By flagging off the first train service from Katra to Srinagar, Prime Minister Narendra Modi scripted history—not just the departure of a train but a divine moment that ignited the flame of development. The Modi government's vision and relentless effort have turned this impossible dream into reality, not only connecting Kashmir but also showcasing India's strength to the world. This victory resonates from the peaks of the Himalayas to the valleys of Kashmir, immortalized by the Modi government's adept leadership. For decades, Kashmir grappled with geographical barriers, but now the rail network has embraced it. The once risky, exhausting, and unsafe road journey has been transformed into a swift, modern ride on trains like Vande Bharat, covering the distance in under 10 hours. The journey from Katra to Srinagar via Banihal will not only save time and effort but also usher in a new dawn for tourists and locals alike. IRCTC's world-class facilities—convenient ticket booking, modern coaches, and delicious catering—will make this journey a memorable experience. In the Prime Minister's words, this bridge is not just a structure of steel but a bridge of hearts, erasing the shadows of terror and spreading rays of peace and prosperity. Following the recent Pahalgam terrorist attack, the Modi government's resolute and courageous response sent a clear message: Pakistan's attempts to spread fear will fail, and India no longer merely endures—it forges the path to victory. This rail network is set to become the foundation of an economic revolution. Kashmir's red apples, handicrafts, and traditional products will now reach major markets across the country at lower costs and in less time, bringing prosperity to local traders and opening new employment opportunities for the youth. This transformation will elevate Kashmir's economy to new heights, bringing prosperity to every household. For tourism, this connectivity marks the beginning of a golden era. People from every corner of India can now step directly into Kashmir's enchanting valleys by train—where the chinar trees blooming in the lap of the Himalayas, the serenity of Dal Lake, and the beauty of Shalimar Bagh will be visible from the train's window. Travelers who once hesitated due to arduous journeys will now find wings for their dreams, and Kashmir will emerge as a global tourism hub—all made possible by the Modi government's steadfast resolve and technological advancements. This railway is not just a network of tracks but an unparalleled saga of unity, trust, and progress. Kashmir, once seemingly disconnected from the mainstream, is now becoming its beating heart. The sound of the tracks, the whistle of the train, and the winds of the valley carry the call of this new creation, propelling India toward the role of a global leader. This project will not only enrich Kashmir but also strengthen the nation's unity and integrity. The Modi government's monumental achievement has given Kashmir a new identity—one that pierces the darkness of terror to spread the light of development. As the train races through Kashmir's valleys, it will not merely be a train but a symbol of every dream that seeks to reach from the snow-capped peaks of the Himalayas to every village in the valley. This is a journey that touches hearts, brings tears of hope to eyes, and fills India's soul with pride. The Modi government's extraordinary triumph has shown Kashmir the path to prosperity, and this railway will remain a source of inspiration for generations to come—an inspiration that will echo as long as the Himalayas stand and Kashmir's valleys remain lush and green. This is the song of India's victory, one that will reside in every heart and inspire every soul. Prof RK Jain 'Arijeet',Barwani (MP) India's global influence waning India's diplomatic isolation represents a failure of its foreign policy. The all-party delegations that visited various foreign countries received only a lukewarm reception. They could not even get an audience with the most influential figures from those countries in the international arena. There is nothing substantial that India has gained from the diplomatic outreach. Even brilliant parliamentarians like Shashi Tharoor and Salman Khurshid could not make any difference. The international community's disinclination to delink the India-Kashmir conflict from the Kashmir issue seems to be the major problem that even its rigorous diplomacy finds hard to surmount. No matter what the BJP and the Modi government say for domestic consumption, even the all-weather friend Russia has seconded US President Donald Trump's claim of mediation for an end to military operations. At the same time, Pakistan seems to have succeeded in winning over the international community and multilateral financial agencies. It has managed to become the vice-chair of a UN panel on terrorism and avail loans from the International Monetary Fund, the World Bank and the Asian Development Bank. By fulfilling the legitimate political aspirations of the people of Jammu and Kashmir and devolving more power to them, India can hope to demonstrate that Jammu and Kashmir is its integral part and change the global perception of it and win international support. G David Milton, Maruthancode, Tamil Nadu Suffocated academics The United States government's plans to cut economic support to universities is quite disheartening. American Universities have been a lighthouse for the world and this nation has also attracted talent from everywhere. Renowned Nobel Laureates have been given in every field. The politicians of the world must abstain from playing with the educational institutions and universities in their bid to destroy the academics and scholastic pursuits thoughtlessly. Instead of curtailing economic support by the US government, it should find ways to correlate with the alumni of these universities as well as other universities and governments for collaborative strengthening of educational pursuits. It must be understood by all the nations' politicians that disturbed teachers and students due to lack of funding support in research will do no good either to the polity or economy of the country they govern. Suffocation due to lack of opportunities for flow of innovative ideas will be fatal for the growth of our civilization and for lasting peace. Brij B Goyal, Ludhiana (Punjab) Leave language politics alone The formation of Bharatiya Bhasha Anubhag (Indian languages section) within the Department of Official Languages by the Union government is a step towards appeasing the non-Hindi speaking states to use their mother tongue in official languages. The government thinks that this will soften their stand against the charge of Hindi bias. There is no special interest in developing the local languages by the central government. English helps the southern states to communicate easily and effectively with the centre. Moreover, translating everything in local languages is not possible. There are many pressing issues to be taken up by the government. Why is the government taking up the language issue time and again? Let the government continue to deal in English and Hindi as has been the practice. S Sankaranarayanan, Chennai Does Modi believe in 'I' over 'We'? The construction of the world's highest railway bridge over the Chenab river makes every Indian swell with pride. It was a massive engineering feat, requiring the expertise of over 1,300 engineers, technicians, and workers. Civil engineers, mechanical engineers, structural engineers, welders and technicians, and all manner of other professionals were needed to complete this engineering marvel. Yet, Modi's image walking all alone by himself with India's national flag had "I" rather than "We" written all over it. Only an Everester can claim such bragging rights, as the achievement is singularly his. In the case of the Chenab bridge, it is just a happy coincidence that this engineering marvel has been completed under Modi's watch. Modi ought to have humbly dedicated the bridge to the nation, rather than conveying the unspoken message that it was "I" ( rather than "We" ) who did it. Avinash Godboley, Dewas, Madhya Pradesh Is cricket now a fatal attraction for its fans? The event is only IPL, a money making venture. The team has not won any international trophy. It is the madness that cricket is injecting into the younger minds. Result these types of tragedies. Gainers the individual players, IPL and cricket boards. It is high time this frenzy is curtailed and divert the youth to take up alternate sport events. As a country, we are yet to make an impact in the Olympics. IPL is just a fun game. The loss of 11 lives is precious and whoever is responsible should be severely punished as per the law and there is no escape route. The first accused are all Karnataka television news channels. They are the ones who truly promoted this RCB team. They emotionally hyped up these auctioned players as if they were nation-builders, societal architects, or those who achieved something remarkable after 18 years. They discussed a 3-hour game for 30 hours, indulging in perverse sensationalism. Hence, they are the first accused. The second accused are the RCB franchise, RCB fans' club, and KSCA. Despite having a stadium with a capacity of 35,000 seats, they allowed a flood of lakhs of frenzied fans without any preparation, despite past experiences. There was no need to bring players on a special flight and organize an event the very next day after the final. Had they planned carefully, issued passes to those who needed them, and obtained police permission, this accident could have been prevented. They sacrificed people for their spectacle. The third accused is the Karnataka government, particularly Chief Minister Shri Siddaramaiah and Deputy Chief Minister Shri D.K. Shivakumar. They should not have displayed the immorality of honouring individuals who won in such gambling at the temple of democracy, Vidhana Soudha. For a Chief Minister with a socialist background like Siddaramaiah, the words of Ram Manohar Lohia about cricket should have come to mind. What was the need to honour them in front of Vidhana Soudha? The fourth accused are the Bengaluru Police Commissioner and the heads of the intelligence and surveillance departments. Regardless of the pressure from KSCA, the government, or cricket fans, they should have rejected the proposal to organize such an event so soon in an emotionally charged situation with a large crowd. They should not have granted permission or should have dispersed the crowd with a lathi charge. Their failure in this regard is evident. People rely on the police for their safety, and the police are the only ones who can control such frenzy; no one else can. The fifth accused are helpless social activists like us with feeble voices. We have failed to bring enlightenment to society's mindset. When cricket, a wonderful sport, was turned into gambling, we failed to raise awareness against it. We are unable to stop the youth from indulging in such madness because we, too, are helpless. Therefore, we are also the fifth accused. In IPL, the game of cricket is not a winner and the madness comes in the open. C.K. Suresh, Ghaziabad Locked out, beaten down: Human rights violated at KSCA Stadium Thousands of RCB fans injured and traumatised after stadium gates were shut and police resorted to lathi charge despite sparse crowd inside. What began as a day of enthusiasm and hope for thousands of Royal Challengers Bengaluru (RCB) fans turned into a harrowing example of institutional mismanagement, negligence, and a disturbing case of human rights violations at the Karnataka State Cricket Association (KSCA) Stadium. On Wednesday, June 4, throngs of cricket fans—many of them students and young adults—arrived at the stadium, eager to witness their beloved RCB team in flesh and blood. But instead of cheers and cricket, they were met with locked gates, baton-wielding police, and chaos that left at least 40 persons injured, many with lacerations, bruises, and trauma. This was not a stampede born of unruliness. It was the outcome of preventable administrative failure and state-enabled violence—both of which demand scrutiny under the lens of human rights law. At the core of the fiasco lies a critical breach of Article 21 of the Indian Constitution, which guarantees the right to life and personal liberty. This fundamental right, interpreted over the decades to include the right to safety and dignity, was blatantly disregarded by KSCA authorities and law enforcement officials. Senior human rights activists and advocates point out that this was a case of grave violation of personal liberty and Human rights put together. State based human rights association are now examining at the high court level to go in for a case for human rights violations against the KSCA. Despite widespread ticketing and crowd anticipation, KSCA inexplicably shut the stadium gates, leaving thousands stranded in tightly packed, suffocating conditions. Eyewitnesses confirmed that less than a quarter of the stadium was filled at the time, raising serious questions about intent, transparency, and competence. The predictable outcome was a human crush. When the gates were eventually opened—far too late and without any control mechanisms—the desperate crowd surged forward. Instead of orderly entry, fans were met with gates slammed shut in their faces, resulting in dozens of injuries. These actions are not merely logistical lapses; they represent culpable negligence. Any reasonable authority could have anticipated the danger of locking large crowds outside an underfilled venue. In failing to take even minimal precautions, the KSCA and its partners compromised the safety of citizens—a violation that must be investigated under relevant public safety and human rights frameworks. As if the chaos outside the stadium gates were not traumatic enough, the police response escalated the situation into an outright assault on civil liberties. With fans pushed against barricades, police resorted to a lathi charge to control the crowd. But video and first-hand accounts indicate that the violence was indiscriminate, directed even at those trying to de-escalate or retreat. This use of force—especially on unarmed, peaceful fans including minors—is in direct violation of international human rights standards, including the UN Basic Principles on the Use of Force and Firearms by Law Enforcement Officials, which state that force must be used only when strictly necessary and in proportion to the threat posed. In this case, the threat was manufactured by institutional mismanagement. The police were not responding to violence—they were reacting to a crowd denied access and dignity. Their role should have been to protect citizens, not to punish them for institutional failures. These are not rhetorical questions. They demand formal investigation and public accountability, not just from the KSCA but also from local police leadership and civic authorities responsible for event coordination. It is alarming that, as of now, no one has stepped forward to accept responsibility, nor have any apologies been issued to the injured fans or their families. The treatment meted out to the fans also infringes on Article 19(1)(b) of the Indian Constitution—the right to assemble peacefully. By criminalising a civilian gathering and reacting with force rather than facilitation, both the KSCA and the police turned a peaceful sporting event into a site of state-enabled trauma. This incident is not merely a matter of mismanagement—it is a case study in how public institutions can turn everyday civil gatherings into rights violations. Sporting events are supposed to unite communities. What happened outside KSCA on June 4 will be remembered as a moment when cricket fans were treated as liabilities, not citizens. The injuries, physical and emotional, will take time to heal. But unless institutional accountability, apologies, and corrective actions follow, the damage will only deepen. -M Raghuram, Mangaluru A litmus test of popular mood Apropos, "The real battle for Bihar has begun," THI, Jun 7. Though still five months away, the Bihar Assembly elections have already ignited intense political fervour. The high-stakes battle looms larger than ever, as the polls mark the first major democratic exercise following the spectacular success of Operation Sindoor—an assertive military manoeuvre against Pakistan that the NDA will undoubtedly spotlight as a testament to its nationalist credentials. The ruling alliance appears poised to capitalise on the patriotic euphoria, weaving national security triumphs into its state-level narrative. Meanwhile, the opposition UPA faces a strategic conundrum—caught between countering the jingoistic wave and articulating a locally resonant alternative vision, a task that appears Sisyphean in the prevailing sentiment. Compounding the political intrigue is the advancing age of Chief Minister Nitish Kumar. Whispers of a potential leadership transition within the NDA have gained traction. Should Kumar step aside, speculation intensifies over whether a BJP or JD(U) stalwart would emerge as the alliance's face, with implications for intra-coalition dynamics. In essence, Bihar's electoral verdict will transcend local governance—it will be a litmus test of popular mood, ideological resonance, and the evolving contours of national versus regional political priorities. N Sadhasiva Reddy, Bengaluru
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