Sitharaman reviews capex of seven CPSEs under three key ministries

Combined capital expenditure of the seven PSUs for FY21 is Rs 24,663 crore, down from Rs 25,974 crore last year

Finance Minister Nirmala Sitharaman, on Thursday, reviewed the capital expenditure situation of ministries of Civil Aviation, Railways and Steel, and seven state-owned companies under these ministries, said an official statement.

“This was second meeting in the ongoing series of review meetings that the Finance Minister is conducting with various stakeholders to accelerate the economic growth in the background of Covid-19 pandemic,” the press release stated.

The combined capital expenditure of the seven PSUs under these ministries for FY21 is Rs 24,663 crore, down from Rs 25,974 crore last year. “During Q1 of FY 2019-20, capex was Rs 3,878 crore and that for April-June 2020-21 is Rs 3,557 crore,” it said.

“The Finance Minister asked the concerned Secretaries and the Chairman Railway Board to closely monitor the performance of CPSEs in order to ensure capital expenditure of 50 per cent of capital outlay by the end of Q2 of FY 2020-21 and make appropriate plan for it,” the release stated, adding that the Finance Minister will hold such reviews every month

The Centre is confident that whatever the revenue situation may be, it will not fall short of capital expenditure targets.