Finance Minister Nirmala Sitharaman on Monday asked officials to ensure that 14 state-owned companies spend 75 per cent of their capital outlay for the year by the end of December.
This is because the government looks to maintain the pace of capital and infrastructure projects in a bid to soften the economic blow from the pandemic.
According to an official statement, Sitharaman held a video conference with secretaries of the ministries of petroleum and natural gas and ministry of coal, as well as the 14 PSUs under these departments.
“This 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 Covid-19 pandemic,” the statement said.
The combined capex target for the 14 central public sector enterprises (CPSEs) for FY21 is Rs 1.15 trillion. Sitharaman asked the concerned secretaries to closely monitor their performance and ensure they spend 75 per cent of their capex by the end of the third quarter of the current fiscal.
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