FM Nirmala Sitharaman holds 3rd review meeting of CPSEs on capital expenditure

Finance Minister Nirmala Sitharaman yesterday hold 3rd review meeting of Central Public Sector Enterprises, CPSEs on capital expenditure for the current financial year. Secretaries of the Ministries of Shipping, Road Transport and Highways, Housing and Urban Affairs, Defence  and Department of Telecommunications along with the CMDs of 7 CPSEs were also present during the meeting.

The combined Capital expenditure target for 2020-21 for these seven CPSEs is one lakh 24 thousand 825 crore rupees. In 2019-20, against the target of one lakh 29 thousand 821 crore rupees, the achievement was over 88.37 per cent. During the first quarter of 2019-20 the achievement was around 16 per cent  and achievement upto July 2020



in the current financial year is 20 per cent.

 

Speaking on the occasion, Mrs Sitharaman asked the concerned Secretaries to closely monitor the performance of CPSEs in order to ensure capital expenditure to the tune of 50 per cent of capital outlay by the end of second quarter of the current financial year and make appropriate plan for it.

She said that better performance of CPSEs can help the economy in a big way to recover from the impact of COVID 19. While mentioning the significant role of CPSEs in giving a push to the growth of the Indian economy, the Finance Minister encouraged the CPSEs to perform better to achieve their targets.