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.