With public capex taking a backseat in the first quarter of 2024-25 owing to the general election, Finance Minister Nirmala Sitharaman on Tuesday kicked off an assessment of capital spending efforts by ministries as the Centre strives to meet its ambitious โน11.11 lakh crore target through the rest of the year.
The Minister began the series of reviews with Ministries of Road Transport and Highways, and Telecom. They have been allocated a tad more than โน3 lakh crore capital outlays this year. She emphasised that departments must expedite implementing and โmake up for Q1 and Q2 (FY25) targets in Q3 itselfโ.
Urging ministries to pursue โmeaningful creation of assets for public utilityโ, Ms. Sitharaman underscored the importance of setting quarterly targets and ensuring they are achieved within a stipulated time frame, the Finance Ministry said in a statement.
Ministriesโ assurance
Top officials from the Road Transport Ministry, with a โน2.72 lakh crore capex outlay in the Budget, informed Ms. Sitharaman that they are taking steps to attract private capital and meet asset recycling targets.
With a capex goal of almost โน29,000 crore, Telecom Ministry officials assured her that โall targets are on track and will be met in timeโ.
