Finance Minister holds 4th review meeting on CAPEX of CPSEs

Union Minister for Finance & Corporate Affairs 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.

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Key-Points

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 COVID–19 pandemic.

In FY 2019-20, against the CAPEX target of Rs. 1,11,672 crore for these 14 CPSEs, the achievement was Rs. 1,16,323 crore i.e. 104%.

While reviewing the performance of CPSEs, Smt. Sitharaman said that CAPEX by CPSEs is a critical driver of economic growth and need to be scaled up for the FYs 2020-21 & 2021-22.

The CPSEs CAPEX review is carried out jointly by Department of Economic Affairs and Department of Public Enterprises.