Govt urged Central Public Sector Enterprises to boost Capital Expenditure

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Finance Ministry has urged Central Public Sector Enterprises (CPSEs) to boost their capital expenditure during the current FY 2019-20.

  • A statement was issued after the meeting held between the Financial advisors of various Ministries and Maharatna and Navratna categories of CPSEs for considering measures to pump liquidity into the market by boosting capital expenditure of the Union government.
  • The meeting was chaired by Economic Affairs Secretary Atanu Chakraborty.
  • There are eight Maharatna CPSEs Coal India, — BHEL, BPCL, NTPC, ONGC, GAIL, Indian Oil, and SAIL — and 16 Navratna CPSEs.
  • The Centre has budgeted Rs 3.38-lakh crore for capital expenditure for the FY 2019-20
  • The government wants to utilise CPSEs’ spending powers to boost liquidity, as the private sector continues to struggle due to poor demand and declining sales.