Nirmala Sitharaman Asks Ministries To Spend More On Large Projects

Finance Minister Nirmala Sitharaman has asked ministries to spend on large projects

Finance Minister Nirmala Sitharaman has asked Secretaries of all key infrastructure sector ministries to push expenditure on large important projects, to ensure that achievements are commensurate with timelines. The departments have also been urged to achieve more than their capacity expansion targets.

During a review meeting of the infrastructure sector, the Finance Minister suggested that all ministries should explore the Public Private Partnership (PPP) mode for viable projects.

With the Centre keen to give a boost to the micro, small and medium enterprises (MSMEs) sector, Ms Sitharaman also asked the ministries and their public sector undertakings to ensure clearance of all MSME dues by July 31, 2021.

While reviewing the capital expenditure performance of the infrastructure ministries and their undertakings, the Finance Minister emphasised that enhanced capital expenditure will play a critical role in revitalising the economy post-pandemic and encouraged the ministries to front-load their capital expenditure.

She directed the Housing and Urban Affairs Ministry to expedite the capital expenditure and make efforts for front loading it. The Steel Ministry was asked to front load capex and facilitate private investment by providing support and removing bottlenecks.

Similarly the Petroleum and Natural Gas Ministry was asked to expedite monetisation of assets during 2021-22.