Jaitley reviews PSUs’ capital expenditure programme -Governance Now

Jaitley reviews PSUs’ capital expenditure programme

CPSEs’ chiefs say they are on track for achieving the capital expenditure of Rs 3.85 lakh crore

GN Bureau | September 29, 2017

#PSU #Arun Jaitley #capital expenditure #debt

Finance minister Arun Jaitley reviewed capital expenditure programme and status of dividend distribution of central public sector enterprises (CPSEs) with secretaries of key ministries including petroleum, defence, power, road transport, railways, coal, mines, steel, atomic energy.

Jaitley stressed that the CPSEs should not only complete their budgeted capital expenditure but also aggressively push capital expenditure to boost investment in the Indian economy.

Senior officials from the key ministries and PSUs’ chiefs apprised Jaitley that their capital expenditure programme for the current year are completely on track for achieving the capital expenditure of Rs 3.85 lakh crore budgeted in 2017-18.

Some PSUs informed that they were planning to increase their capital expenditure programme, which in the aggregate, might be of the order of additional Rs 25,000 crore.

The minister assured that the government would make available adequate resources but no slackness under any circumstances would be acceptable. He indicated that the capital expenditure programme would again be reviewed by either November or December.

During the meeting, it was found that most of the PSUs have very low or no debt on their balance sheet which is reflected in their low debt to equity ratios. CPSEs were, therefore, asked to raise more debt and not to rely entirely on cash and free reserves for finding new investments and capital expenditure.

Finance secretary Ashok Lavasa advised the CPSEs to release outstanding payments expeditiously to help improve the liquidity in the market.

Comments

Other News

Report of India’s G20 Task Force on Digital Public Infrastructure released

The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi on Monday. The Task Force was led by the

How the Great War of Mahabharata was actually a world war

Mahabharata: A World War By Gaurang Damani Sanganak Prakashan, 317 pages, Rs 300 Gaurang Damani, a Mumbai-based el

Budget expectations, from job creation to tax reforms…

With the return of the NDA to power in the recently concluded Lok Sabha elections, all eyes are now on finance minister Nirmala Sitharaman’s full budget for the FY 2024-25. The interim budget presented in February was a typical vote-on-accounts, allowing the outgoing government to manage expenses in

How to transform rural landscapes, design 5G intelligent villages

Futuristic technologies such as 5G are already here. While urban users are reaping their benefits, these technologies also have a potential to transform rural areas. How to unleash that potential is the question. That was the focus of a workshop – “Transforming Rural Landscape:

PM Modi visits Rosatom Pavilion at VDNKh in Moscow

Prime minister Narendra Modi, accompanied by president Vladimir Putin, visited the All Russian Exhibition Centre, VDNKh, in Moscow Tuesday. The two leaders toured the Rosatom Pavilion at VDNKh. The Rosatom pavilion, inaugurated in November 2023, is one of the largest exhibitions on the histo

Let us pledge to do what we can for environment: President

President Droupadi Murmu on Monday morning spent some time at the sea beach of the holy city of Puri, a day after participating in the annual Rath Yatra. Later she penned her thoughts about the experience of being in close commune with nature. In a message posted on X, she said: