Economic revival: FM asks PSUs to spend 50% of budgeted expenditure by H1

Expenditure by PSUs slows down in Q1, PSUs flagged off problems faced by them

With spending by the central public sector enterprises (CPSEs) slowing, Finance Minister Nirmala Sitharaman on Tuesday asked secretaries concerned to ensure that half of the budgeted expenditure is incurred by the second quarter of the current financial year to help the economy recover. 

The 23 key CPSEs spent 12 per cent of the budgeted expenditure in the first quarter of the current financial year, as against 16 per cent a year ago, the finance ministry said. This means they will have to spend Rs 62,553 crore in the second quarter, three times the Rs 20,202 crore they spent in the first