FM Nirmala Sitharaman holds review meeting on capital expenditure of Central Public Sector Enterprises

Union Finance Minister Nirmala Sitharaman on Monday held a meeting with secretaries of the petroleum and natural gas, and coal ministries along with the chairman and managing directors of 14 Central Public Sector Enterprises (CPSEs) belonging to these ministries, to review capital expenditure in this fiscal.

This was the fourth in a series of meetings that the finance minister is having with various stakeholders to accelerate the economic growth in the background of COVID–19 pandemic.
In the 2019-20 fiscal, against the capital expenditure target of Rs 1,11,672 crore for these 14 CPSEs, the achievement was Rs 1,16,323 crore.

While reviewing the performance of CPSEs, Sitharaman said that capital expenditure by CPSEs is a critical driver of economic growth and need to be scaled up for the this financial year as well as the next.

She asked the secretaries concerned to closely monitor the performance of CPSEs in order to ensure the capital expenditure to the tune of 75 per cent of the capital outlay by the end of the third quarter of this fiscal and make appropriate plan for it. The minister expounded that more co-ordinated efforts are required at secretary- level and CMDs of CPSEs to achieve the targets.