Sitharaman holds review meeting on CAPEX of 23 CPSEs to boost expenditure in economy
New Delhi, Jul 7 : Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday held a meeting with the Secretaries of Ministries of Petroleum & Natural Gas, Power, Coal, Mines and Department of Atomic Energy and the CMDs of 23 CPSEs belonging to these Ministries.
The meeting, held as part of the series of meetings that the Finance Minister is having with various stakeholders to accelerate the economic growth, was conducted through video-conferencing.
In FY 2019-20, against the CAPEX target of Rs 1,64,822 crore for the 23 CPSEs, the achievement was Rs 1,66,029 crore, that is 101 per cent.
Q1 (FY 2019-20) achievement was Rs 26,320 crore (16 per cent) and achievement of Q1 (FY 2020-21) is Rs 20,202 crore (12 per cent). CAPEX target for 2020-21 is Rs 1,65,510 crore.
While reviewing the performance of CPSEs, the Finance Minister said that CPSEs have a very important role in giving a push to the growth of the Indian 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 that better performance of CPSEs can help the economy in a big way to recover from the impact of COVID-19.