Categories: Business

Finance Minister asked CPSE chiefs to accelerate capital expenditure, target of 1.65 lakh crore expenditure

Finance Minister
Image Source: GOOGLE

new Delhi. Finance Minister Nirmala Sitharaman held a meeting with the Chairman and Managing Directors (CMDs) of 23 Central Public Enterprises on Tuesday and asked them to accelerate capital expenditure to accelerate economic growth. These 23 Central Public Enterprises (CPSEs) have a combined capital expenditure target of Rs 1,65,510 crore in 2020-21. The meeting was held through video conferencing with the Secretaries of the Department of Petroleum, Power, Coal, Mines and Atomic Energy and 23 CMDs of the Central Public Undertakings under these ministries. According to the Finance Ministry, the Finance Minister asked the secretaries to monitor the performance of the CPSE to ensure 50 percent of the capital expenditure fixed in the second quarter of 2020-21 and a plan could be made for it.

The Finance Minister said that the stranded cases should be immediately placed before the Department of Economic Affairs (DEA) or Department of Public Enterprises (DPE) so that they can be resolved immediately. In FY 2019-20, the actual capital expenditure of 23 CPSEs stood at Rs 1,66,029 crore as against the target of Rs 1,64,822 crore. He said that CPSE has to play an important role to give a boost to the country's economy. The Finance Minister asked the CPSEs to work better to achieve the target. He asked to ensure that the capital expenditure target set for 2020-21 is spent properly and on time.

According to the statement, the Finance Minister encouraged the CPSE to achieve the target on time. He said the improved performance of CPSEs would help the economy recover from the impact of the Kovid-19 crisis. According to the statement, the Ministries / CPSEs discussed the problems caused by Kovid-19 in the meeting. This includes workforce availability, import delays, payment delays by distribution companies. The Finance Minister is constantly meeting with various parties to speed up economic growth. This meeting has taken place under that.

This post was published on July 8, 2020 12:28 am

Content Team

Recent Posts

Mark Zuckerberg's Fortune Surpasses 100 Billion Dollar Mark Zuckerberg's wealth crosses $ 100 billion for the first time, Mukesh Ambani becomes world's fourth richest person

Photo: BUSINESS INSIDER INDIA Mark Zuckerberg’s Fortune Surpasses 100 Billion Dollar new Delhi. Facebook founder Mark Zuckerberg's net worth exceeded…

Made in India Kia Sonet to be launched in India next month, to get rid of clutch pedals

Photo: KIA MOTORS INDIA Kia Motors unveils compact SUV Sonet; plans to launch next month new Delhi. South Korea's leading…

Facebook has built 600 houses to overcome the housing crisis, will be made available to the poor

Photo: FACEBOOK Facebook fund backs nearly 600 affordable homes San Francisco. US-based technology technology company Facebook has built about 600…