New Delhi: Finance Minister Nirmala sitharaman On Monday, a new exercise was launched to assess the capital expenditure plans of government departments and public sector entities during the current financial year to ensure that they utilize their annual allocations, as well as make them available for the next year. Ask them to keep a strong pipeline ready.
On Monday, Sitharaman met officials from the Ministry of Civil Aviation and the Department of Telecommunications (DoT), where she reiterated that infrastructure projects are a priority for the government and necessary funds will be made available for capital expenditure. The government wants to keep a close watch on infrastructure spending, which includes not only the Centre’s budgetary spending on this sector, but also states and the private sector.
In the budget, the Center had raised capital expenditure by 35% to Rs 5.5 lakh crore during the current fiscal as part of efforts to revive demand and boost economic activity in key industries such as cement and steel. latest number issued by Controller General of Accounts This shows that capital expenditure grew by 41 per cent to Rs 1.7 lakh crore till August, which is almost a third of the full year target.
A higher capex was part of a strategy to revive the economy, which had been hit hard by the pandemic, with the private sector slowing down on new investments due to low demand.
“During the meeting, the capex position of Q1 and Q2, front-loading of capex, the projected target of capital expenditure by the Ministries and their Central Public Sector Enterprises in the coming quarters of the current financial year, expenditure incurred for implementation of National Infrastructure Pipeline (Japani) projects, estimates of funds to be raised by asset monetization, projects undertaken through PPPs and convergence under the National Master Plan (Gati Shakti) were discussed,” an official statement said.
An official said that the Finance Minister is going to meet other departments and ministries in the coming days.
On Monday, Sitharaman met officials from the Ministry of Civil Aviation and the Department of Telecommunications (DoT), where she reiterated that infrastructure projects are a priority for the government and necessary funds will be made available for capital expenditure. The government wants to keep a close watch on infrastructure spending, which includes not only the Centre’s budgetary spending on this sector, but also states and the private sector.
In the budget, the Center had raised capital expenditure by 35% to Rs 5.5 lakh crore during the current fiscal as part of efforts to revive demand and boost economic activity in key industries such as cement and steel. latest number issued by Controller General of Accounts This shows that capital expenditure grew by 41 per cent to Rs 1.7 lakh crore till August, which is almost a third of the full year target.
A higher capex was part of a strategy to revive the economy, which had been hit hard by the pandemic, with the private sector slowing down on new investments due to low demand.
“During the meeting, the capex position of Q1 and Q2, front-loading of capex, the projected target of capital expenditure by the Ministries and their Central Public Sector Enterprises in the coming quarters of the current financial year, expenditure incurred for implementation of National Infrastructure Pipeline (Japani) projects, estimates of funds to be raised by asset monetization, projects undertaken through PPPs and convergence under the National Master Plan (Gati Shakti) were discussed,” an official statement said.
An official said that the Finance Minister is going to meet other departments and ministries in the coming days.
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