Chandigarh, March 3 -- Despite a healthy growth in tax revenues and increased borrowing, the Punjab government is likely to miss its capital expenditure target going by the spending in the first ten months of the financial year 2023-24.

Against a full-year capex of Rs.10,354 crore envisaged in the budget, the state has spent Rs.3,390 crore during the April-January period of the current fiscal, according to data on key economic indicators released recently. The capital expenditure incurred so far is 32.77% of the budgeted amount for FY24. The share of capex is 3.5% of the government spending during this period.

A finance department official said that capex numbers will look much better by the end of the fiscal though they may still fall ...