FM Sitharaman reviews CAPEX of CPSEs to boost expenditure in economy
By TIOL News Service
NEW DELHI, NOV 27, 2020: MINISTER for Finance Ms Nirmala Sitharaman today held a video conference to review the capital expenditure (CAPEX) of 10 central public sector enterprises (CPSEs) belonging to the Ministries of Power, Mines and the Department of Atomic Energy.
This was the fifth such meeting that the Finance Minister had with various stakeholders to accelerate the economic growth in the background of COVID-19 pandemic. While reviewing their performance, Ms Sitharaman told the ministries that CAPEX by CPSEs is a critical driver of economic growth and need to be scaled up for the FYs 2020-21 and 2021-22.
The overall achievement as of 23 November, 2020 is Rs.24,227 crore which is 39.4% of the total CAPEX target of the FY 2020-21, Rs. 61,483 crores.
She said that more efforts are still required to achieve the target of 75% CAPEX by the third quarter and more than 100% by the fourth quarter of FY 2021.
The 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.
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