FM meets heads of 23 CPSEs, discusses need of timely capex for growth

The combined capex target of these 23 CPSEs for the year 2020-21 is Rs 1,65,510 crore

Finance Minister Nirmala Sitharaman on Tuesday met CMDs of 23 CPSEs and emphasised the need for timely capital expenditure (capex) to give a boost to economic growth.

The combined capex target of these 23 Central Public Sector Enterprises (CPSEs) for the year 2020-21 is Rs 1,65,510 crore.

"Finance Minister Smt. @nsitharaman held meeting through VC with Secretaries and CMDs of 23 CPSEs of @PetroleumMin , @MinOfPower , @CoalMinistry, @MinesMinIndia and Dept. of Atomic Energy, to review capital expenditure in this financial year," the finance ministry tweeted.

The meeting was held as part of the series of meetings that the finance minister is having with various stakeholders to accelerate economic growth.

During the meeting, the finance minister emphasised on timely capex by the CPSEs to give a boost to economic growth of the country, it said.

"Encouraging CPSEs to perform better with timely achievement of targets, Finance Minister Smt.@nsitharaman said that better performance of CPSEs can help the economy in a big way to recover from the impact of #COVID19," the ministry said.