Insta
FM Nirmala Sitharaman Asks Ministries To Expedite Capital Expenditure In Latest Review Meet: Report
Swarajya Staff
Jun 12, 2021, 02:48 PM | Updated 02:48 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Union Finance Minister Nirmala Sitharaman has directed specific important ministries to front-load their capital expenditure and potentially surpass the targets set regarding FY22.
Moreover, the ministries have been asked to settle their dues to MSMEs and PSUs at the earliest whilst also exploring the public-private partnership (PPP) method for appropriate projects.
The central government had allocated a sum of Rs 5.54 lakh crore for capex for FY22 in the Union Budget announced earlier this year.
Then, the finance ministry declared in April that Rs 44,000 crore would be additionally allocated through the discretionary corpus of the department of economic affairs to ministries that demonstrate positive progress in capex.
“This was the 5th review meeting by the finance minister with ministries/departments on the infrastructure roadmap ahead,” the ministry’s official statement was quoted by Financial Express.
It added, “During the meeting, capital expenditure plans of ministries and their CPSEs, status of implementation of budget announcements and measures to expedite infrastructure investment were discussed.”
Furthermore, Sitharaman has asked the telecom department and the road ministry to fast-track the expansion of high-level data connectivity projects and enhance connectivity in hilly regions, respectively.
Expedited implementation of the Vehicle Scrapping Facility is also believed to have found a particular mention in the Finance Minister’s remarks.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.