Finance Minister Nirmala Sitharaman chaired the virtual meeting with senior government officials
While reviewing the capital expenditure performance of the key ministries and their central public sector enterprises or CPSEs today, Finance Minister Nirmala Sithraman emphasized that an enhanced capital expenditure or capex will play a crucial role in economic revival after the COVID-19 pandemic. The Finance Minister chaired a virtual meeting on June 4 with senior government officials and encouraged the ministries to front-load their capital expenditure and ensure the clearance of MSME dues. (Also Read: GST Council To Discuss Tax Rate On COVID Essentials, Compensation To States )
✅FM Smt. @nsitharaman chairs meeting to discuss infrastructure road map ahead
✅FM conveys to Ministries to front-load their capital expenditure
✅FM told Ministries and their CPSEs to ensure clearance of MSME’s dues at the earliest
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(1/4) pic.twitter.com/YPxAbKjdSA— Ministry of Finance (@FinMinIndia) June 4, 2021
According to a statement released by the Ministry of Finance on Friday, June 4, Ms Sitharaman also asked the ministries to aim to achieve more than their capex targets. She said that the budget for the financial year 2021-22 provided a capital outlay of Rs.5.54 lakh crore. This is a sharp 34.5 per cent over the budget estimate of the previous fiscal 2020-21.
This was the fourth review meeting by the finance minister with the ministries or departments and the second in the series of meeting scheduled on the infrastructure roadmap ahead of Budget 2021-22. Capital expenditure plans of ministries and their CPSEs, the status of the implementation of budget announcements, and various measures to expedite infrastructure investment were discussed.