FinMin holds 5th review meeting on CAPEX of CPSEs to boost expenditure in the economy
The overall achievement as of 23rd November 2020 is Rs.24227 crore (39.4%) against the CAPEX target for 2020-21 i.e. Rs.61483 crore.
Finance Minister Smt. Nirmala Sitharaman (PSU Connect)
New Delhi: Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today held a Video Conference with Secretaries of the Ministries of Power, Mines and Department of Atomic Energy and the CMDs of 10 CPSEs belonging to these Ministries, to review the capital expenditure (CAPEX) in this financial year. This was 5th in the ongoing series of meetings that the Finance Minister is having with various stakeholders to accelerate the economic growth in the background of the COVID – 19 pandemics.
The overall achievement as of 23rd November 2020 is Rs.24227 crore (39.4%) against the CAPEX target for 2020-21 i.e. Rs.61483 crore.
While reviewing the performance of CPSEs, Smt. Sitharaman said that CAPEX by CPSEs is a critical driver of economic growth and needs to be scaled up for the FYs 2020-21 & 2021-22. The Finance Minister appreciated the efforts of the Ministries and CPSEs for making visible efforts to meet out the CAPEX targets. However, Smt. Sitharaman said that more efforts are still required to achieve the target of 75% CAPEX by Q3 and more than 100% by Q4 of FY 21. The Finance Minister encouraged the CPSEs to perform better to achieve targets and to ensure that the capital outlay provided to them for the year 2020-21 is spent properly and within time.
Smt. Sitharaman asked the Secretaries to closely monitor the performance of CPSEs in order to ensure to achieve the target of CAPEX and make a plan for it. She also asked the Secretaries to proactively sort out the unresolved issues of the CPSEs.
Read Also : GAIL organized 'Kanthasth 2.0' Hindi workshop
News Must Read
- REC Ltd received NOC to set up wholly owned subsidiary in Gift City, Gujarat
- Atanu Chakraborty Reappointed as part-time Chairman of HDFC Bank
- MRPL Q4 Results: Net profit slips 40%, Annual Gains Strong
- DMRC Celebrates 30th Foundation Day at Bharat Mandapam
- Sushil Sharma assumes additional charge of CMD, and Director (Personnel) of SJVN Limited
- Coal India Limited Board recommends final dividend, here to know
- Dr. Subhransu Sekhar Acharya assumes charge of NSIC CMD
- CIL reports mixed bag of results for Q4 of FY23-24
- NMDC's Promising Start to FY25, Targets 50 Million Tonnes
- RITES to take assessment for Vande Bharat Trains