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FM asks infrastructure ministry, CPSE to accelerate capital investment and investigate PPP mode for viable projects

During a performance assessment of the infrastructure roadmap on Friday, Finance Minister Nirmala Sisaraman urged ministries to accelerate capital spending and achieve results that exceed set targets.

Central public sector enterprises are urged to facilitate the settlement of membership fees for micro and small and medium enterprises and seek a public-private partnership mode for viable projects.

“Capital investment plays an important role in revitalizing the post-pandemic economy and encourages ministries to accelerate capital investment,” the Treasury said in a statement after the meeting. Budget announcements and measures to facilitate infrastructure investment were discussed.

During the review, the Minister of Finance asked the telecommunications sector to promote important projects that would bring high-level data connectivity benefits to all regions of the country, including ambitious districts.

The Ministry of Road Transport was urged to explore the possibility of strengthening connectivity in the hills and promote the implementation of vehicle demolition facilities.

The Atomic Energy Division was called upon to achieve the initiatives announced in the Atma Nirbhar Bharat Package in a timely manner.

“She also called on the relevant ministries to regularly review and implement sector-specific projects effectively,” the Treasury said in a statement.

Ministries are also urged to drive spending on large, significant projects so that outcomes are timelined. Ministries need to be proactive in funding projects through innovative structuring and financing, and support the private sector to boost infrastructure spending.

The FY2010 budget will increase significantly from the FY2009 budget estimate to 34.5%, providing a capital expenditure of Rs 5.54. Mr Sisaraman said budgetary efforts to increase capital spending must be complemented by public sector companies.

Infrastructure spending includes central government spending on infrastructure, infrastructure spending by state and private sectors, and government spending through out-of-budget resources.

FM asks infrastructure ministry, CPSE to accelerate capital investment and investigate PPP mode for viable projects

Source link FM asks infrastructure ministry, CPSE to accelerate capital investment and investigate PPP mode for viable projects

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