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

How Homo Sapiens urbanised in the blink of an evolutionary eye

Work: A History of How We Spend Our Time By James Suzman Bloomsbury, 464 pages Among the many assumptions the pandemic has fo

Mumbai on full alert against Omicron

After reports of Omicron, a new potentially contagious variant of coronavirus detected in South Africa, Belgium, Hong Kong, Britain and Israel, more European countries have reported cases, raising global concern and imposing travel restrictions.   The WHO has classified it as a ‘va

Five Ws of Gandhi assassination

The Murderer, the Monarch and the Fakir: A New Investigation of Mahatma Gandhi’s Assassination By Appu Esthose Suresh and Priyanka Kotamraju HarperCollins, 240 pages, Rs 399

13 states told increase Covid-19 testing

In view of several countries reporting surges in Covid-19 cases and many developed nations facing fourth and fifth waves despite high numbers of vaccinations, the Ministry of Health and Family Welfare has written to the states of Nagaland, Maharashtra, Sikkim, Kerala, Goa, Manipur, Meghalaya, Mizoram, J&am

PMC Bank proposed resolution: Areas of darkness at the end of tunnel

A few months after the Punjab and Maharashtra Co-Operative Bank Ltd (PMC Bank) was put under moratorium in September 2019, I met an announcer in a function on banking organised by an industry body, with which I have been associated. She was young, pretty beautiful and had a sweet voice and modulation. She

Atal Innovation Mission and Vigyan Prasar collaborate to engage with science and Atal Tinkering Labs

 Niti Aayog’s flagship initiative, Atal Innovation Mission (AIM), recently announced to collaborate with Vigyan Prasar, an autonomous organization of the Department of Science and Technology, Government o

Visionary Talks: Dr. Naresh Trehan, CMD Medanta Heart Institute with Kailashnath Adhikari



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter