CAPITAL EXPENDITURE • FREE TRANSLATOR.ORG • Definition of Capital expenditure

... war in European Russia, the most backward of all European countries, whose population was little more than a third of that of India. The Government of India may claim that this is a magnificent return for the L380,000,000 of capital expenditure that these railways represent to-day in its books, and that the profits which they have yielded for the last twenty years with steadily increasing abundance to the State show the money to have been well invested. But how if these results have been achieved only by a short-sighted ...

— India, Old and New • Sir Valentine Chirol