economy

FM Sitharaman urges civil aviation ministry, DoT to expedite capex spending

FM Sitharaman urges civil aviation ministry, DoT to expedite capex spending

To give a fillip to capital expenditure (Capex) and infrastructure progress in the country, union finance minister Nirmala Sitharaman chaired a review meeting with with the ministry of civil aviation and department of telecommunications today. The finance minister emphasised that there must be an accelerated phase of infrastructure development and ministries must continuously make concerted efforts to ensure that project implementation is fast-tracked. During the meeting, Capex status of first two quarters, front-loading of expenditure, estimated targets of capital spending by ministries and their Central Public Sector Enterprises (CPSEs) in the upcoming quarters of current financial year, among other issues were discussed Sitharaman reiterated that ministries must pool in all efforts to ensure higher capital spending in coming months to achieve higher growth in the economy. The finance minister exhorted officials to monitor implementation of projects besides monitoring release of funds. Sitharaman said infra projects are priority for the government and necessary funds will be made available for Capex. Sitharaman underlined that the infra spending includes not only central government budgetary expenditure, but also spending by state governments and the private sector. The private Capex on infrastructure, and those under Public-Private Partnership (PPP) should also be tracked to capture the entire infra progress in the country, said FM. The review meetings were also attended by Economic Affairs Secretary, Civil Aviation Secretary and other senior officials. Download.

economy 2021-10-26 Livemint