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The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman holding a meeting with the Secretaries and CMDs of 23 CPSEs to review capital expenditure in this financial year through video-conferencing, in New Delhi on July 07, 2020.
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman holding a meeting with the Secretaries and CMDs of 23 CPSEs to review capital expenditure in this financial year through video-conferencing, in New Delhi on July 07, 2020.

Finance Minister holds review meeting on CAPEX of 23 CPSEs to boost expenditure in the economy

New Delhi:7/7/20: Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, today held meeting, through Video Conference, with Secretaries of Ministries of Petroleum & Natural Gas, Power, Coal, Mines and D/o Atomic Energy, and the CMDs of 23 CPSEs belonging to these Ministries. This meeting was held as part of the series of meetings that the Finance Minister is having with various stakeholders to accelerate the economic growth.

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 i.e. 101%. Q1 (FY 2019-20) achievement was Rs.26,320 crore (16%) and achievement of Q1 (FY 2020-21) is Rs.20,202 crore (12%). 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.

The Finance Minister asked the Secretaries to closely monitor the performance of CPSEs in order to ensure capital expenditure to the tune of 50% of capital outlay by Q2 2020-21 and make plan for it. She stated that unresolved issues should be flagged immediately to the DEA/DPE for an immediate solution.

The Ministries/ CPSEs discussed constraints being faced by them due to COVID 19 like problems of availability of manpower, delay in imports, delay in payments by DISCOMs on the dues of CPSEs like NPCIL and NLC. Smt Sitharaman stated that extraordinary situation requires extraordinary efforts and with collective efforts, we will not only perform better but also help the Indian economy to achieve better results.

About Ashok Palit

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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