{"id":268136,"date":"2025-04-07T09:50:56","date_gmt":"2025-04-07T09:50:56","guid":{"rendered":"https:\/\/imarticus.org\/blog\/?p=268136"},"modified":"2025-04-07T09:50:56","modified_gmt":"2025-04-07T09:50:56","slug":"capital-budgeting-techniques","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/capital-budgeting-techniques\/","title":{"rendered":"Top Investment Criteria for Effective Capital Budgeting Decisions"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A successful business operates differently from a failing one based exclusively on a company&#8217;s investment choice. That\u2019s what makes <\/span><b>capital budgeting<\/b><span style=\"font-weight: 400;\"> one of the most strategic decisions a company can make.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether you&#8217;re a budding finance professional or gearing up for a CFO course, understanding <\/span><b>what is capital budgeting<\/b><span style=\"font-weight: 400;\"> and how to apply it effectively is essential.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A manufacturing business holds two promising growth possibilities that combine constructing a brand-new facility or improving its present operations. Both seem promising. The selection yields sustainable long-term benefits for one option while the other fails to deliver this effect. So, how do you choose?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is where capital budgeting techniques come into play.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s dive into the process, explore essential criteria, and examine the best <\/span><b>capital budgeting methods<\/b><span style=\"font-weight: 400;\"> used by CFOs and decision-makers worldwide.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What is Capital Budgeting?<\/span><\/h2>\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Capital_budgeting\"><span style=\"font-weight: 400;\">Capital budgeting<\/span><\/a><span style=\"font-weight: 400;\"> is the process of evaluating and selecting long-term investments that align with an organisation\u2019s goals. Those enrolled in a CFO course are often trained extensively on capital budgeting because of its direct impact on profitability and shareholder value.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Why Capital Budgeting Matters in Business Strategy<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Strong financial decisions shape business direction. The Government has estimated total receipts (excluding borrowings) at <\/span><a href=\"https:\/\/www.india.gov.in\/spotlight\/union-budget-2025-2026#:~:text=Budget%20Estimates%202025%2D26&amp;text=The%20net%20tax%20receipts%20are,)%20earmarked%20in%20FY2025%2D26.\"><span style=\"font-weight: 400;\">\u20b934.96 lakh crore<\/span><\/a><span style=\"font-weight: 400;\">, while the total expenditure stands at \u20b950.65 lakh crore.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consider these three reasons why capital budgeting is non-negotiable:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Long-term vision enables the company to connect its investments directly to future organisational goals and missions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The procedure helps companies identify operational risks and financial hazards at the initial stages.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The analysis framework allows organisations to back their decisions through documented data.<\/span><\/li>\n<\/ul>\n<h4><span style=\"font-weight: 400;\">Capital Budgeting Process: Step-by-Step<\/span><\/h4>\n<p><i><span style=\"font-weight: 400;\">An effective <\/span><\/i><b><i>capital budgeting process <\/i><\/b><i><span style=\"font-weight: 400;\">typically follows these five stages:<\/span><\/i><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Idea Generation<\/b><span style=\"font-weight: 400;\"> \u2013 Collect potential investment ideas from internal and external sources.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Project Evaluation<\/b><span style=\"font-weight: 400;\"> \u2013 Estimate cash inflows\/outflows and assess feasibility.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Project Selection<\/b><span style=\"font-weight: 400;\"> \u2013 Use <\/span><b>capital budgeting methods<\/b><span style=\"font-weight: 400;\"> like NPV and IRR to compare options.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Implementation<\/b><span style=\"font-weight: 400;\"> \u2013 Execute the chosen project and monitor cost and timeline.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Review &amp; Audit<\/b><span style=\"font-weight: 400;\"> \u2013 Compare projected results with actual outcomes for learning and accountability.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Each stage builds discipline into financial decision-making, helping leaders make well-informed choices.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Top Capital Budgeting Techniques You Must Know<\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td><b>Technique<\/b><\/td>\n<td><b>Description<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Net Present Value (NPV)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Calculates the value today of future cash flows.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A positive NPV = good investment.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Internal Rate of Return (IRR)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">The rate at which the investment breaks even.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Higher IRR = better return.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Payback Period<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Time taken to recover the original investment. Shorter is often better for liquidity.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Profitability Index (PI)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">The ratio of payoff to investment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">PI &gt; 1 indicates a profitable venture.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Discounted Payback Period<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Like Payback, which accounts for the time value of money. More accurate and less popular.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Each of these methods has its place. In fact, most firms combine multiple methods to reduce bias and make balanced investment decisions.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Capital Budgeting Techniques in Financial Management<\/span><\/h2>\n<h3><b>1. Payback Period<\/b><\/h3>\n<p><b>Definition:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Time required to recover the initial investment via cash inflows.<\/span><\/p>\n<p><b>Formula:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Even Cash Flows: Payback = Investment \/ Annual Cash Flow<\/span><\/li>\n<\/ul>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Simple and easy to understand<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Emphasises early recovery<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Useful in liquidity-focused decisions<\/span><\/li>\n<\/ul>\n<p><b>Limitations:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ignores the time value of money<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No focus on profitability after payback<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">May reject long-term profitable projects<\/span><\/li>\n<\/ul>\n<p><b>Example:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u20b910 lakh investment with \u20b92.5 lakh inflows takes 4 years to break even.<\/span><\/p>\n<h3><b>2. Profitability Index (PI)<\/b><\/h3>\n<p><b>Definition:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Shows the value created per \u20b91 invested.<\/span><\/p>\n<p><b>Formula:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">PI = Present Value of Cash Flows \/ Initial Investment<\/span><\/p>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Useful for ranking projects<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Compares the relative value of investments<\/span><\/li>\n<\/ul>\n<p><b>Limitations:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It may not work well for exclusive projects<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ignores absolute values like NPV<\/span><\/li>\n<\/ul>\n<p><b>Example:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A PI of 1.5 implies \u20b91.50 of value created per \u20b91 invested.<\/span><\/p>\n<h3><b>3. Accounting Rate of Return (ARR)<\/b><\/h3>\n<p><b>Definition:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Measures profitability using accounting profits rather than cash flows.<\/span><\/p>\n<p><b>Formula:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">ARR = (Average Annual Profit \/ Investment) \u00d7 100<\/span><\/p>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Simple to calculate using financial statements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Includes total project life span<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Provides an accounting-based benchmark<\/span><\/li>\n<\/ul>\n<p><b>Limitations:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ignores the time value of money<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Uses book profits, not cash flows<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">May be misleading if profits fluctuate<\/span><\/li>\n<\/ul>\n<p><b>Example:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u20b920 lakh investment yielding \u20b96 lakh average annual profit gives ARR = 30%.<\/span><\/p>\n<h3><b>4. Discounted Payback Period<\/b><\/h3>\n<p><b>Definition:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Payback period with time value of money considered.<\/span><\/p>\n<p><b>Formula:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">PV = Cash Flow \/ (1 + r)^n<\/span><\/p>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Better than simple payback<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accounts for risk and value of cash over time<\/span><\/li>\n<\/ul>\n<p><b>Limitations:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ignores cash flows post-recovery<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Doesn\u2019t measure full profitability<\/span><\/li>\n<\/ul>\n<h3><b>5. Real Options Analysis<\/b><\/h3>\n<p><b>Definition:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Adds strategic flexibility (like delay or expansion) to traditional evaluation.<\/span><\/p>\n<p><b>Formula:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Total Project Value = NPV + Option Value<\/span><\/p>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accounts for future flexibility<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adds strategic depth to the analysis<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Great for emerging tech sectors<\/span><\/li>\n<\/ul>\n<p><b>Limitations:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Requires complex option models<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Needs volatility estimation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Not easy to communicate with all stakeholders<\/span><\/li>\n<\/ul>\n<h3><b>6. Sensitivity Analysis<\/b><\/h3>\n<p><b>Definition:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Assesses how output (like NPV) changes with different input variables.<\/span><\/p>\n<p><b>Formula:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">% Change in Output \/ % Change in Input<\/span><\/p>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Highlights key variables<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Helps plan risk strategies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Informs which assumptions to monitor<\/span><\/li>\n<\/ul>\n<p><b>Limitations:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">One variable at a time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ignores variable interdependence<\/span><\/li>\n<\/ul>\n<h3><b>7. Scenario Analysis<\/b><\/h3>\n<p><b>Definition:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Tests how multiple variables affect a project under different conditions (best, worst, likely).<\/span><\/p>\n<p><b>Formula:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Expected NPV = \u03a3 (Scenario Probability \u00d7 Scenario NPV)<\/span><\/p>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Provides holistic risk view<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Helps prepare for varied outcomes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Good for planning and forecasting<\/span><\/li>\n<\/ul>\n<p><b>Limitations:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Subjective probability assignment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Limited to defined scenarios<\/span><\/li>\n<\/ul>\n<p><b>Example:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">NPVs range from -\u20b950 lakh to \u20b92 crore across three demand scenarios, helping leaders prepare better.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Real-World Scenario: When Strategy Meets Math<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A mid-sized logistics company recently faced a critical decision: Should it invest \u20b950 crore in fleet expansion or go digital with warehouse automation?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Their finance head, fresh from an executive <\/span><a href=\"https:\/\/imarticus.org\/postgraduate-certificate-programme-for-emerging-cfos-iim-indore\/\"><b>CFO course<\/b><\/a><span style=\"font-weight: 400;\">, applied both IRR and NPV to assess options. Though the fleet expansion had a quicker payback, automation promised a higher long-term IRR and better strategic alignment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They chose automation. One year later, not only did their delivery time improve by 40%, but their cost-to-serve dropped substantially\u2014validating a decision rooted in solid <\/span><b>capital budgeting<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Step into the World of Finance with IIM Indore and Imarticus Learning<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Imarticus Learning, with IIM Indore, brings the <\/span><a href=\"https:\/\/imarticus.org\/postgraduate-certificate-programme-for-emerging-cfos-iim-indore\/\"><i><span style=\"font-weight: 400;\">Postgraduate Certificate Programme for Emerging CFOs<\/span><\/i><\/a><span style=\"font-weight: 400;\">. Meant for finance pros with five or more years of work time, this 126-hour course shapes the next set of finance heads.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a new-age course plan, you will learn the key parts of cash stack, funds, and risk check while also going deep into the new roles CFOs face in the tech age. You will build the skills to think ahead and make strong plans, read trends, and use new tools in the world of cash.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Each one who joins will earn top alum rank from IIM Indore\u2014this gives you full-time use of the IIM Indore book bank and a mail ID with the IIM Indore tag. With expert talks by top CFOs, you will gain real-world views that will help you make smart picks and drive big change.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Enrol in the Postgraduate Certificate Programme for Emerging CFOs and take the next step towards becoming a next-gen CFO with IIM Indore and Imarticus Learning.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Frequently Asked Questions<\/span><\/h3>\n<ol>\n<li><b> What is capital budgeting in financial work?<\/b><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Capital budgeting shows how firms plan for big buys. It helps firms know which tasks or buys to start to get the best gain from their funds.<\/span><\/p>\n<ol start=\"2\">\n<li><b> Why is capital budgeting key for a CFO?<\/b><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Capital budgeting helps a CFO plan well. It gives them the tools to use cash in the best way and weigh the gains and losses for each task.<\/span><\/p>\n<ol start=\"3\">\n<li><b> What are the most used capital budgeting methods?<\/b><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The most used capital budgeting methods are Net Present Value (NPV), Inner Rate of Gain (IRR), Time to Payback, Gain Index, and Book Rate of Gain.<\/span><\/p>\n<ol start=\"4\">\n<li><b> How does the capital budgeting process work?<\/b><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The capital budgeting process starts by spotting tasks, then it checks cash to come, picks the best way to test them, weighs the risk, and then picks which task to start.<\/span><\/p>\n<ol start=\"5\">\n<li><b> What are some new capital budgeting techniques?<\/b><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">New capital budgeting techniques are Fixed IRR, Choice-Based View, Risk Test View, and Plan Test View\u2014used to weigh change and risk in task results.<\/span><\/p>\n<ol start=\"6\">\n<li><b> What is the gap between IRR and NPV in capital budgeting?<\/b><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">While NPV shows the full worth made by a task, IRR shows the rate of gain. NPV works best when you pick one out of many tasks.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A successful business operates differently from a failing one based exclusively on a company&#8217;s investment choice. That\u2019s what makes capital budgeting one of the most strategic decisions a company can make. Whether you&#8217;re a budding finance professional or gearing up for a CFO course, understanding what is capital budgeting and how to apply it effectively [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":268137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_mo_disable_npp":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[5022],"class_list":["post-268136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-capital-budgeting"],"acf":[],"aioseo_notices":[],"modified_by":"Imarticus Learning","_links":{"self":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/268136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/comments?post=268136"}],"version-history":[{"count":1,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/268136\/revisions"}],"predecessor-version":[{"id":268138,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/268136\/revisions\/268138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/media\/268137"}],"wp:attachment":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/media?parent=268136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/categories?post=268136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/tags?post=268136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}