CPSEs have very important role in giving push to growth of economy: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman held review meeting with CMDs of 23 Central public sector enterprises (CPSEs) yesterday to boost expenditure in the economy. Secretaries of Ministries of Petroleum and Natural Gas, Power, Coal, Mines and Atomic Energy also attended the meeting. In 2019-20, the capital expenditure (CAPEX) by the 23 CPSEs stood at one lakh 66 thousand 29 crore against the target of one lakh 64 thousand 822 crore rupees, which is 101 per cent.

 

Mrs Sitharaman said, CPSEs have a very important role in giving a push to the growth of the economy.



She 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. The Finance Minister said, better performance of CPSEs can help the economy in a big way to recover from the impact of Covid-19.

 

Mrs Sitharaman stated that extraordinary situation requires extraordinary efforts and with collective efforts, we will not only perform better but also help the Indian economy to achieve better results.