Better conduct of CPSEs can help India recover from Covid-19, says Sitharaman

NewsBharati    08-Jul-2020 15:05:34 PM
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New Delhi, July 8: Viewing to boost expenditire in economy, Finance Minister Nirmala Sitharaman on Tuesday held review meeting with CMDs of 23 Central public sector enterprises (CPSEs). CPSEs have a very important role in giving a push to the growth of the economy. She encouraged the CPSEs to perform better to achieve targets and to ensure that the capital outlay provided to them for the year 2020-21 is spent properly and within time.

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Secretaries of Ministries of Petroleum and Natural Gas, Power, Coal, Mines and Atomic Energy also attended the meeting. In 2019-20, the capital expenditure (CAPEX) by the 23 CPSEs stood at 1,66,029 crore against the target of Rs 1,64,822 crore, which is 101 per cent. The Finance Minister said, better performance of CPSEs can help the economy in a big way to recover from the impact of Covid-19.
 
Sitharaman also stated that extraordinary situation requires extraordinary efforts. She emphasised on timely capital expenditure of the CPSEs to give a boost to the economic growth of the country. The combined CAPEX target of these 23 Central Public Sector Enterprises (CPSEs) for the year 2020-21 is Rs.165510 crore.
 
The economy in the midst of the coronavirus spread has reached the grounds and Sitharaman's expectation from the CPSEs seems immense. This meeting was held as part of the series of meetings that the Finance Minister is having with various stakeholders to accelerate the economic growth.