State Capital Outlay Across Indian States, 2004-2024

State governments collectively spent Rs. 9.2 lakh crore on capital outlay in 2024, fifteen times the Rs. 62,000 crore in 2004. The jump since 2021 is striking: capital outlay rose from Rs. 5.3 lakh crore to Rs. 9.2 lakh crore in just three years, as states ramped up infrastructure…