The Statistics Ministry has released a landmark forward-looking survey that tries to gauge capex intent among large private enterprises. The headline result is stark: investment intentions for 2025-26 are down 25% from the previous year to just ₹4.88 trillion.Fewer firms responded to the survey, and of those that did, even fewer reported plans to invest. In nominal terms, this implies a modest compound annual growth rate of 5.5% since 2021-22. Adjusted for inflation, the real growth in capital formation is close to 1.5%.
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