News Update

Former IPS officer Sanjiv Bhatt jailed for 20 yrs for planing drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal
 
Front load capex, explore PPP mode: Sitharaman on infra roadmap

By TIOL News Service

NEW DELHI, JUN 12, 2021: FINANCE Minister Ms Nirmala Sitharaman on Friday directed senior government officials from various ministries to spend more than their Capital Expenditure (Capex) targets as well as explore Public Private Partnerships (PPP) for viable projects.

During a review meeting discussing the infrastructure roadmap, the capex plans of ministries and their public sector units, status of implementation of Budget 2021-22 announcements and measures to expedite infrastructure investment were discussed.

"Enhanced capex will play a critical role in revitalising the economy post-pandemic," said Ms Sitharaman and encouraged the ministries to front-load their capital expenditure. The Budget provided a capital outlay of Rs. 5.54 lakh crore, a sharp increase of 34.5 per cent over the Budget Estimate of 2020-21.

However, she added, the efforts from the budgetary side have to be complemented by the public sector enterprises. The minister said infrastructure expenditure is not just Centre’s budgetary expenditure, but also includes government expenditure through extra-budgetary resources.

"Ministries are to actively work on getting projects funded through innovative structuring and financing and provide all support to private sector for enhancing infrastructure spending," she added.

Ms Sitharaman asked ministries to explore PPP mode for viable projects and clear the dues owed to Micro, Small and Medium Enterprises (MSMEs) at the earliest.

The Department of Telecommunication (DoT) was asked to expedite important projects bringing high level data connectivity while the Road Transport Ministry was told to explore the possibility of enhancing connectivity in hilly regions and to expedite the implementation of Vehicle Scrapping Facility.

The minister asked the Department of Atomic Energy to ensure the timely achievement of initiatives announced under the Aatmanirbhar Bharat (self-reliant India) Package.

Ministries were also told to take up regular reviews of sector-specific projects with the concerned State governments for their effective implementation.


POST YOUR COMMENTS
   

AR not Afar by SK Rahman

TIOL Tube Latest

Shri Shailendra Kumar, Trustee, TIOL Trust, giving welcome speech at TIOL Awards 2023




Shri M C Joshi, Former Chairman, CBDT




Address by Shri Buggana Rajendranath, Hon'ble Finance Minister of Andhra Pradesh at TIOL Awards 2023