Finance Minister Nirmala Sitharaman proposes to raise capex target by 11.1% to Rs. 11.11 lakh crore for next fiscal year to boost demand and consumption. The government aims to become the third largest economy by 2030. However, the on-year jump in capex target for next fiscal lags behind this year's spike. The government's focus on fiscal consolidation restricts public spending, but capex is crucial for India's growth. India's capex in FY21 and FY22 stood at Rs 4.1 lakh crore and Rs 5.9 lakh crore, respectively.