Finance minister Nirmala Sitharaman tells PSUs to front-load capex | India News – Times of India



    NEW DELHI: Finance minister Nirmala Sitharaman on Friday urged state-run companies in power and railway sectors as well as the two ministries to ensure that the capital expenditure plans laid out in the Budget are met, while underlining that this will critical for revitalising the economy.
    The government is banking on the large spendingled stimulus provided in the Budget to revive demand and boost economic activity, which has taken a beating due to the second wave of the coronavirus pandemic.
    It also came with instructions to clear the dues of micro, small and medium enterprises (MSMEs), which may be facing a liquidity crunch due to the lockdown across several states.
    “While reviewing the capital expenditure performance of the ministries and their CPSEs, the finance minister emphasised that enhanced capex will play a critical role in revitalising the economy post-pandemic and encouraged the ministries to front-load their capital expenditure. Ministries were also requested to aim to achieve more than their capex targets,” the finance ministry said in a statement.
    Pointing to the 34% increase in the capital outlay this year, Sitharaman said the higher capex needs to be complemented by PSUs.


    Source link


    Please enter your comment!
    Please enter your name here