15-January-2025
Economy News
 
FM Sitharaman meets road, telecom ministries to review budgeted capex plans
04-Sep-2024

In a move to push capital expenditure (capex) utilisation by ministries, Finance Minister Nirmala Sitharaman on Tuesday met officials of the road transport & highways ministry and the department of telecom (DoT) to review plans for their budgeted capex. Sitharaman has urged the ministries to set up quarterly targets and ensure that they are achieved within a stipulated time frame. She also asked them to expedite implementation of projects, a press statement by the finance ministry said. This was the first, in a series of meetings by the FM, to take stock of the progress being made by ministries with significant capital outlays in the coming days, the press statement added. Budgeted capex allocation for the Ministry of Road Transport and Highways has increased by 90 per cent from Rs 1.42 trillion in FY20 to Rs 2.72 trillion in FY25. The ministry told the FM that it was making efforts to attract private capital through various measures and ensure that asset recycling targets are also met. The estimated budgetary capex allocation for the Ministry of Communication in FY25 stands at Rs 28,835 crore.

News Source:- https://www.business-standard.com/economy/news/finmin-to-review-capex-plans-of-ministries-urges-them-to-expedite-targets-124090301217_1.html