SME Times News Bureau | 06 Sep, 2019
In order to boost capital expenditure of the Union Government
so as to pump liquidity in the market to boost demand, Ministry of Finance held
meeting with the heads of Maharatna and Navratna Central Public Sector
Enterprises (CPSEs) and Financial Advisors (FAs) of infrastructure Ministries in
New Delhi on Friday.
The meeting was Co-Chaired by Atanu Chakraborty , Secretary,
Department of Economic Affairs and Shri G.C.Murmu , Secretary Department of
During the meeting capital expenditure by various CPSEs &
Ministries was reviewed. They were impressed upon to adhere to the expenditure
plan and accelerate investment activities.
They also reviewed monitoring release of payments for
procurements and other contracts without delay to infuse liquidity in a time
The officials also discussed resolution of outstanding
payments which may have been held up on account of disputes.
Ministry of Finance would constantly monitor the progress of
large infrastructure projects for the Ministries as well as the CPSEs and
further follow meetings would be held.
For this purpose, Ministry will be developing a dashboard for
enabling Ministries to upload figures on periodic basis.
During last week, the Secretary (Expenditure) and Secretary
(Economic Affairs) also Co-Chaired a meeting with the heads of large CPSEs and
officials of the Ministry of Micro, Small and Medium Enterprises and the
Ministry of Public Enterprises.
Government has devised a multi- pronged approach for
providing boost to the economy. Merger of some Public Sector Banks and upfront
capital infusion of Rs. 70.000 crore were announced recently.
It is hoped that enhanced credit flow will spur investment
cycle and help revive stressed sectors like housing.
Start-ups have been exempted from ‘angel tax’. Distress in
the auto sector has also been addressed through a package of measures.