 "capex")
The capital expenditure (capex) of 58 central public sector enterprises (CPSEs) under 17 ministries is set to surpass the full year target for the third consecutive year in financial year 2024-25 (FY25).
The CPSEs also include four entities such as Damodar Valley Corporation (DVC), Delhi Metro Rail Corporation (DMRC), Indian Railways and National Highways Authority of India (NHAI). Their capex touched 93.95 per cent of the total revised estimates of ₹7.87 trillion for FY25, according to a senior government official.
CPSEs exceeded their full year targets at 100.4 per cent and 108 per cent in FY23 and FY24, respectively.
The four entities have spent 94.2 per cent of their revised capex target of ₹4.36 trillion for FY25 while the other 54 CPSEs have exhausted 93.7 per cent of the ₹3.51 trillion in the same year.
“This will mark a significant milestone in our operational and policy initiatives. A key factor has been the effective monitoring and facilitation of capex within select CPSEs and other organisations,” the official stated.
The top spenders till February include Oil & Natural Gas Corporation (232 per cent), NTPC (144.5 per cent), National Highway Authority of India (121 per cent), Hindustan Petroleum Corporation Ltd (115.2 per cent), Gail India (111.7 per cent), Power Grid Corporation (110.5 per cent), Bharat Petroleum Corporation Ltd (110.8 per cent), Indian Oil (107.3 per cent), Airport Authority of India (103.9 per cent) and Coal India (97.7 per cent).
The laggard CPSEs are Rashtriya Ispat Nigam Ltd (2.8 per cent), Mahanagar Telephone Nigam Ltd (3.9 per cent), Bharat Sanchar Nigam Ltd (13.7 per cent), National Aluminium Company (47.9 per cent), Indian Railways (76.7 per cent) and Nuclear Power Corporation of India (77 per cent).
The Department of Public Enterprises (DPE) has introduced several policy reforms to streamline operations and enhance decision making within CPSEs.
Revised guidelines, issued in September 2024, simplified the process for establishing joint ventures and wholly-owned subsidiaries by Maharatnas, Navratnas, and Miniratnas.
Similarly, new directives issued in May 2024 simplified the process for upgrading CPSE categorisations.
The DPE granted Maharatna status to Hindustan Aeronautics Limited (HAL) and elevated several CPSEs, including National Fertilizers Limited, NHPC, and Railtel Corporation of India Limited, to Navratna status.
These recognitions provide CPSEs with greater autonomy to undertake ambitious projects. They help foster innovation and growth across critical sectors like renewable energy, infrastructure, and urban development.
