New Delhi, Oct. 7 -- Central government capital expenditure declined 30 per cent year-on-year in August 2026, but remains ahead of the budget trajectory on a year-to-date basis, with a 12 per cent annual growth in the remaining months needed to meet the FY27 budget estimate, Jefferies said in a report.

Central government capex rose 18 per cent year-on-year in the April-August period, compared with the budget estimate of a 14 per cent increase for FY27. This follows a 43 per cent year-on-year increase in capex during the same period of FY26, although full-year growth eventually moderated to 2 per cent, the brokerage said.

Jefferies said it is tracking capex excluding telecom and the Department of Economic Affairs (DEA), which rose 19 per...