New Delhi, Aug. 22 -- The intended private capital expenditure (capex) for FY26 is significantly lower than the numbers of FY25, and may decline further amid the impact of US tariffs, according to a report by the State Bank of India (SBI).

The report highlighted that while government spending has been driving growth, the economy now urgently needs private sector participation to sustain momentum.

It stated "Data........ indicated that the intended capex for FY26 is significantly lower than the FY25 numbers"

The report stressed that private investors must "hold the baton now," as muted private investment remains a major concern for sustainable growth.

Based on a survey of 2,170 enterprises conducted in April 2025 across agriculture, ma...