Home » Business » Finance Minister Smt. Nirmala Sitharaman holds 4th review meeting on CAPEX of CPSEs
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman holding a Video Conference with the Secretaries of the Ministries of Petroleum & Natural Gas and M/o Coal along with the CMDs of 14 CPSEs belonging to these Ministries, to review the capital expenditure (CAPEX) in this financial year, in New Delhi on October 19, 2020.

Finance Minister Smt. Nirmala Sitharaman holds 4th review meeting on CAPEX of CPSEs

New Delhi:19/10/20: Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman today held a Video Conference with Secretaries of the Ministries of Petroleum & Natural Gas and M/o Coal, along with the CMDs of 14 CPSEs belonging to these Ministries, to review the capital expenditure (CAPEX) in this financial year. This was 4th in the ongoing 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 FY 2019-20, against the CAPEX target of Rs. 1,11,672 crore for these 14 CPSEs, the achievement was Rs. 1,16,323 crore i.e. 104%. FY 2019-20, H1 achievement was Rs. 43,097 crore (39%) and achievement of FY 2020-21, H1 is Rs. 37,423 crore (32%). CAPEX target for 2020-21 is Rs. 1,15,934 crore.

While reviewing the performance of CPSEs, Smt. Sitharaman said that CAPEX by CPSEs is a critical driver of economic growth and needs to be scaled up for the FYs 2020-21 & 2021-22. 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% of the capital outlay by the end of Q3 of FY 2020-21 and make an appropriate plan for it. Smt. Sitharaman expounded that more co-ordinated efforts are required at the levels of Secretary of concerned Ministries and CMDs of CPSEs to achieve CAPEX targets.

While mentioning the significant role of CPSEs in giving a push to the growth of the Indian economy, the Finance Minister encouraged the CPSEs to perform better to achieve their targets and to ensure that the capital outlay for FY 2020-21 is spent properly and within time. Smt. Sitharaman said that better performance of CPSEs can help the economy in a big way to recover from the impact of COVID-19.

The CPSEs CAPEX review is carried out jointly by the Department of Economic Affairs and Department of Public Enterprises.

About Editor in chief

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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