Capex spends may drop by 30% in FY09

After four years of growth at 40 per cent or more, capital expenditure (capex) by India Inc in the current financial year (2008-09) may drop almost 30 per cent. This is partly the result of a fall in corporate fund-raising over the last six months and partly owing to difficulties in raising funds overseas, following the sub-prime credit crisis in the US. A Reserve Bank of India study estimates that India Inc’s... [read full story]