In this article, capillary discharge Ne-like argon 46.9nm soft X-ray laser has been firstly manifested with 4.8mm inner diameter alumina capillary for higher discharge currents. We have designed and installed capillary discharge setup for 4.8mm inner diameter alumina capillary to achieve intense 46.9nm laser. One dimensional Langragian Magneto-hydrodynamics (MHD) code was used to simulate the plasma conditions at the lasing time. The MHD code was used to perform the parametric studies of Z-pinch argon plasma, such as electron temperature, electron density and Ne-like argon ion density. The intensities of capillary discharge 46.9nm laser emitted from 4.8mm inner diameter alumina capillary were measured at 30, 36 and 40kA main discharge currents. According to the results, when the main current amplitude was increased from 30kA to 36kA and 40kA, the intensity of laser produced at optimum pressure increased up to 1.5 and 2 times, respectively. Moreover, we also studied the influence of predischarge current by increasing the predischarge current from 25 to 250A and investigated 140A as the best predischarge current for lasing. Hence, increasing the amplitude of main current using a comparatively larger inner diameter capillary is an effective way to improve intensity of capillary discharge 46.9nm soft X-ray laser. The maximum energy of 46.9nm laser was observed approximately 1.5mJ under best discharge conditions. The discussion has been made on the enhancement of 46.9nm laser intensity for higher main discharge currents and best predischarge current with experimental and simulated results. This is the first observation of 46.9nm laser with 4.8mm inner diameter alumina capillary.