Finance Minister Sitharaman urges CPSEs to carry out higher in third capex overview assembly

In the third review meeting on the capital expenditure (capex) by central public sector enterprises (CPSEs) this fiscal, finance minister Nirmala Sitharaman urged CPSEs to carry out higher to attain their capex targets for the 12 months as this would supply a considerable push to economic recovery.

Sitharaman met with the secretaries of the ministries of defence, delivery, highway transport and highways, housing and concrete affairs and the division of telecommunications, together with the heads of some CPSEs underneath these ministries, by way of video convention on Friday.

The minister requested the secretaries to intently monitor the CPSEs’ efficiency and to attract up a plan to make sure they spent a minimum of 50% of their capital outlay by the second quarter of FY21.

The mixed capex goal for the CPSEs that had been a part of the assembly was Rs 1.25 lakh crore for this fiscal towards which they achieved 20% or Rs 24,933 crore by the top of July.

During the earlier fiscal, these CPSEs achieved a capex of Rs 1.15 lakh crore or 88.37% of the goal of Rs 1.30 lakh crore.

Earlier in July, the minister held two such capex overview conferences with secretaries of assorted ministries together with heads of CPSEs underneath them. The sequence of conferences had been part of the federal government’s plan to speed up financial progress by boosting CPSE capex.

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