Finance Minister Nirmala Sitharaman on Tuesday held a meeting with secretaries and heads of 23 Central Public Sector Enterprises (CPSEs) to review the capital expenditure in this financial year. During the virtual meeting, the finance minister asked the secretaries to closely monitor the performance of CPSEs and ensure expenditure to the tune of 50 per cent of the capital outlay by Q2 FY21.
Sitharaman also encouraged CPSEs to perform better and achieve their targets within the set time frames as “better performance of CPSEs can help the economy in a big way to recover from the impact of COVID-19.”
India’s gross domestic product (GDP) has been predicted to contract 4.5 per cent in 2020, the finance ministry earlier said. However, early green shoots of economic revival emerged in May and June, the ministry said in its monthly macroeconomic report.
