Business & Investment

FM Sisaraman asks Ministry of Civil Aviation, DoT to move the project forward quickly

Aiming to support the economic recovery, Finance Minister Nirmala Sisaraman reviewed the progress of capital investment by the Ministry of Civil Aviation and the Communications Sector on Monday, requesting that the project be implemented promptly.

In addition to monitoring the release of funds, the minister urged authorities to oversee the implementation of the project, an official statement said.

She emphasized that infrastructure projects are a government priority and said the necessary funds will be available for fixed investment (fixed investment).

She instructed the Ministry of Economic Affairs (DEA) staff to work closely with the Ministry of Civil Aviation to launch more projects and significantly increase capital investment in 2011 above current targets. ..

Sitharaman has telecommunications bureaus (DoT) promote CPSE capital investment, rapid asset monetization, and work closely with DIPAM to complete the monetization process early and digital across the northeast. Requested to ensure the prompt implementation of the expansion plan. Priority area.

She further stated that ministries must pool all efforts to secure higher capital spending in the coming months in order to achieve higher economic growth.

Sisaraman ordered the secretaries to promote spending on infrastructure projects this fiscal year and plans for the next fiscal year, the statement added.

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She emphasized that infrastructure spending includes not only central government budget spending on infrastructure, but also state and private sector spending.

Therefore, private capital investment in infrastructure and capital investment under public-private partnerships (PPPs) should also be tracked to understand the progress of the country’s infrastructure as a whole.

During the meeting, first and second quarters capital investment status, capital investment ahead of schedule, estimated capital investment targets by ministries and their central public sector enterprises (CPSE) in the next quarter, and national infrastructure pipeline (NIP) Expenditure projects for implementation were discussed.

Estimates of funds raised by monetization of assets, projects undertaken through PPP, and convergence under the National Master Plan (Gati Shakti) were also discussed.

The review meeting was attended by economic, civil aviation, and communications secretaries, apart from other senior officials.

“Today’s meeting is the first of a series of Treasury review meetings on CAPEX with various infrastructure ministries and is a continuation of the previous meeting in June 2021.”

The 2021-22 United Budget provided capital expenditures of Rs 5.54, 34.5% higher than the 2020-21 budget estimate.

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FM Sisaraman asks Ministry of Civil Aviation, DoT to move the project forward quickly FM Sisaraman asks Ministry of Civil Aviation, DoT to move the project forward quickly

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