new Delhi. Stressing the need to increase capital expenditure (capex) by central public sector enterprises (CPSEs), Union Finance Minister Nirmala Sitharaman said on Monday that they would have to increase spending both in the current and the next financial year. The Finance Minister also said that the improved performance of CPSEs can help the Indian economy to overcome the impact of Kovid-19.
During a video conferencing meeting with the Secretaries of the Ministry of Petroleum and Natural Gas and Coal and CMD of 14 CPSEs, Sitharaman asked the concerned secretaries to ensure expenditure up to 75 per cent of the total capital by the end of the third quarter of FY 2020-21. Proper planning should be prepared.
He said that for this, there is a need to coordinate between the Secretary of the Ministries and the CMD of 14 CPSEs.
In the financial year 2019-20, for these 14 CPSEs, Rs 1,16,323 crore was spent against the target of Rs 1,11,672 crore, which is more than the target.
The capital expenditure target for the financial year 2020-21 is Rs 1,15,934 crore.
Referring to the important role of CPSEs in accelerating the Indian economy, the Finance Minister said that they should perform better to achieve their targets and be spent properly and within time.
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