New Delhi, June 23 -- Over five states in the country are expected to contribute nearly half of the total capital outlay (capex) in the financial year 2025-26 (FY26), according to a report by Bank of Baroda.

Uttar Pradesh and Gujarat are among the biggest contributors, followed by Maharashtra, Madhya Pradesh, and Karnataka.

The report stated, "Over 5 states are estimated to contribute around 50 per cent of the total capital outlay in FY26, with Uttar Pradesh and Gujarat amongst the biggest contributors, followed by states like Maharashtra and Madhya Pradesh".

Capital outlay refers to the money spent by governments (in this case, state governments) on building or acquiring fixed assets like roads and highways, schools and hospitals.

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