Capital expenditure by CPSEs critical driver of economic growth and need to be scaled up: FM Nirmala Sitharaman
Finance and Corporate Affairs Minister Nirmala Sitharaman today said that capital expenditure (CAPEX) by Central Public Sector Enterprises (CPSEs) is a critical driver of economic growth and needs to be scaled up for the Financial years 2020-21 and 2021-22.
She said this while addressing a Video Conference with Secretaries of the Ministries of Petroleum & Natural Gas and Ministry of Coal, along with the CMDs of 14 CPSEs belonging to these Ministries.
The Minister reviewed the capital expenditure of CPSEs in this financial year.
Today was the fourth in the ongoing series of meetings that the Finance Minister is having with various stakeholders to accelerate the economic growth in the background of the COVID-19 pandemic.
CAPEX target for 2020-21 is Rs. 1,15,934 crore.
While reviewing the performance of CPSEs, The Finance Minister asked the concerned Secretaries to closely monitor the performance of CPSEs in order to ensure the capital expenditure to the tune of 75 percent of the capital outlay by the end of the third quarter of the financial year 2020-21 and make an appropriate plan for it.
