👉🏻 Only ₹15,000 Cr capex achieved vs ₹4,60,000 Cr target (3.4% completion).
👉🏻 ₹45,000 Cr in bidding stage, ₹1,55,000 Cr under implementation.
👉🏻 Supply constraints & execution risks slowing progress.
Source: Kotak Institutional Equities
#IndianRailways #KAVACH #Capex #Infra