Quick Summary
Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman today held Video Conference with Secretaries of the Ministries of Petroleum Natural Gas and M/o Coal, along with the CMDs of 14 CPSEs belonging to these Ministries, to review the capital expenditure (CAPEX) in this financial year. This was 4th in the ongoing series of meetings that the Finance Minister is having with various stakeholders to accelerate the economic growth in the background of COVID19 pandemic. In FY 2019-20
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FAQ :
The review meeting was chaired by the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman.
The meeting involved Secretaries from the Ministries of Petroleum & Natural Gas and Coal, along with the CMDs of 14 CPSEs belonging to these ministries.
In FY 2019-20, the 14 CPSEs achieved Rs. 1,16,323 crore against a target of Rs. 1,11,672 crore, which is 104% of the target.
The CAPEX target for FY 2020-21 is Rs. 1,15,934 crore.
The Finance Minister asked for a closely monitored performance to ensure 75% of the capital outlay is spent by the end of Q3 of FY 2020-21.
CAPEX by CPSEs is considered a critical driver of economic growth and can significantly help the economy recover from the impact of COVID-19.
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