new Delhi. Central public companies will have to spend Rs 37,256 crore in the next four months to achieve the capital expenditure (capex) target for the current financial year. Finance Minister Nirmala Sitharaman reviewed the capital expenditure of the CPSE. The capital expenditure of these companies is considered important for the increase in economic activity during the Corona period.
It was revealed in the review that CPSE has spent Rs 24227 crore till November 23 while the target for the current financial year 2020-21 is Rs 61483 crore. In such a situation, these companies will have to spend Rs 37,256 crore in the next four months to achieve the target. Reviewing the work of CPSEs, Sitharaman said that the capital expenditure by CPSEs is important to accelerate the pace of economic growth and should be increased for FY 2020-21 and 2021-22.
He said that more efforts are needed to achieve the 75 percent capex target by the third quarter of FY 2021 and more than 100 percent capex target by the fourth quarter. He said that CPSEs should ensure that the capital amount given for the year 2020-21 will be spent in a proper manner and within the time frame. Sitharaman asked the secretaries of the concerned departments to monitor the performance of the CPSE and plan for it to ensure the achievement of the CAPEX targets.
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