Sitharaman Pushes for Swift Capex Implementation in Ministries

Finance Minister Nirmala Sitharaman emphasized quarterly capex targets for ministries, urging expedited spending. In review meetings, ministries discussed plans to meet December quarter targets. MoRTH's capex allocation saw a significant increase, while DoT focused on broadband and 4G connectivity in rural areas. Private capital attraction and asset recycling were also highlighted.

Finance Minister Nirmala Sitharaman stressed the critical need for ministries to set quarterly capital expenditure targets and expedite their spending for the remaining months of the fiscal year.

During a review meeting focused on the capital expenditure for the Ministry of Road, Transport and Highways (MoRTH) and the Department of Telecom, Sitharaman urged ministries to expedite the implementation of projects to meet targets set for the June and September quarters by December of FY2024-25, according to a statement from the finance ministry.

This review meeting is part of a series chaired by Sitharaman, aimed at ministries with significant capital expenditure outlays. The Minister of Road Transport and Highways saw its budget increase by 90 percent from Rs 1.42 lakh crore in FY2019-20 to Rs 2.72 lakh crore in FY2024-25.

MoRTH officials briefed Sitharaman on their plans for the remaining fiscal year. They noted efforts to attract private capital and meet asset recycling targets. The telecommunications meeting covered the Bharat Net project, 4G mobile projects, and other initiatives aimed at improving connectivity in rural and remote areas, with a capex budget of Rs 28,835 crore for FY2024-25.

(With inputs from agencies.)