finance minister

 

Finance Minister Asks State-Owned Companies To Push Capital Expenditure

FM Nirmala Sitharaman met officials of 7 CPSEs on Thursday

 

Finance Minister Nirmala Sitharaman on Thursday met the top officials of seven central public sector enterprises (CPSEs) to review their capital expenditures for the current financial year. According to an official release by the finance ministry, The minister prodded the CPSEs to accelerate their capital expenditure and asked them to ensure that half of their spending is outlayed by the second quarter of financial year 2020-21.

 

The release also stated that the combined capital expenditure for the seven CPSEs which attended Thursday’s meeting stands at Rs 24,663 crore for the current fiscal year. In the last financial year, 2019-20, these CPSEs could achieve capital expenditure of Rs 25,974 crore, against the target of Rs 30,420 crore.

 

Ms Sitharaman also said that unresolved issues regarding expenditures should be flagged immediately to the various concerned departments of the ministry.

 

The meeting between the CPSEs and the minister was a second of its kind within a month and the release stated that such meetings will be held every month.

Leave a Reply

Your email address will not be published. Required fields are marked *