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Nov 27, 2020

Finance Minister holds 5th review meeting on CAPEX of CPSEs

Finance Minister  Nirmala Sitharaman  today held a Video Conference with Secretaries of the Ministries of Power, Mines and Department of Atomic Energy and the CMDs of 10 Central Public Sector Enterprises CPSEs of  these Ministries, to review the capital expenditure (CAPEX) in this financial year.

This was 5th in the ongoing series of meetings that the Finance Minister held  with various stakeholders to accelerate the economic growth in the background of COVID - 19 pandemic. The Ministry of Finance in a statement said that the overall achievement as on 23rd of this month  is 24 thousand 227 crore rupees against the CAPEX target  of 61 thousnad 483 crore rupees for 2020-21.

While reviewing the performance of CPSEs, Finance Minister Nirmala Sitharaman said that CAPEX by CPSEs is a critical driver of economic growth and need to be scaled up for the fiscal year  2020-21 and 2021-22.She  appreciated the efforts of the Ministries and CPSEs for making visible efforts to meet out the CAPEX targets. However Mrs Sitharaman said that more efforts are still required to achieve the target of 75 per cent  CAPEX by third  Quarter and more than 100 per cent  by fourth quarter of the Fiscal year -2020-21.

The Finance 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.Mrs Sitharaman also asked the Secretaries to proactively sort out the unresolved issues of the CPSEs.

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