Capital Expenditure Across Indian States, 2004-2024

State-level capital expenditure has grown nearly tenfold from INR 1.57 lakh crore in 2004 to INR 15.3 lakh crore in 2024. The pace picked up sharply after 2020, with capex more than doubling in just four years as states ramped up spending on roads, irrigation, and urban infrastructure. This…