FM Nirmala Sitharaman asks seven CPSEs to spend 50% capex in H1

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 Covid-19 pandemic

Union Finance Minister Nirmala Sitharaman on Friday asked seven state-owned companies under five key ministries to spend 50 per cent of their capital outlay for the year before October 1. 

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 coronavirus (Covid-19) pandemic.

Finance ministry officials are confident that in spite of the hit on revenues, the Centre will meet its capital expenditure target of Rs 4.12 trillion this fiscal year.

According to an official statement, Sitharaman held a video conference meeting with secretaries of the ministries of