Finance Minister Says Enhanced CAPEX Will Play Critical Role In Revitalising Economy Post Pandemic

Union Minister for Finance & Corporate Affairs Nirmala Sitharaman held a virtual meeting with senior government officials to discuss the infrastructure roadmap ahead. During the meeting, Capital Expenditure (CAPEX) plans of Ministries and their CPSEs, status of implementation of budget announcements and measures to expedite infrastructure investment were discussed. While reviewing the capital expenditure performance of the Ministries and their CPSEs, Finance Minister emphasised that enhanced CAPEX will play a critical role in revitalising the economy post-pandemic and encouraged the Ministries to front-load their capital expenditure. Ministries were also requested to aim to achieve more than their CAPEX targets. The Finance Minister asked the M/o Housing and Urban Affairs to expedite the capital expenditure and make efforts for front loading it. The M/o Steel was asked to front load capex and facilitate private investment by providing support and removing bottlenecks. The M/o Petroleum and Natural Gas was asked to expedite monetization of assets during FY 2021-22. D/o Space was asked to focus on domestic procurement wherever possible.

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