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PM Office monitors CAPEX, investment plans of CPSEs

PM Office monitors CAPEX, investment plans of CPSEs

The Prime MinisterÂ’s Office has been monitoring the Capital expenditure (CAPEX) and investment plans of selected Central Public Sector Enterprises (CPSEs) since FY 12-13. The purpose of this exercise was to enhance investment in the economy and use CPSEs to drive economic growth.

The CAPEX target set for FY – 2013-14 is Rs 1,41,912 crore. This covers 23 CPSEs, including major investors such as ONGC, Oil India, GAIL, Indian Oil, MRPL, SAIL, NMDC, Powergrid, NHPC, NTPC, Coal India, Neyveli Lignite Corp., CONCOR, NALCO, BHEL, BEL, Rashtriya Ispat Nigam, Satluj Jal Vikas Nigam and Nuclear Power Corporation.

At the end of the first quarter, (Q1, FY13-14), the overall capital investment by all these CPSEs is Rs 23,635 crore as against the Q1 target of Rs 25,131 crore. This is an achievement of 94 per cent. It was also noted that six CPSEs, viz, NMDC, PGCIL, NLC, BEL, RINL and HAL had surpassed their first quarter targets.

In a review meeting of the lagging CPSEs, i.e., NTPC, SJVNL, Coal India, CONCOR and NPCIL, the individual CPSEs assured that they would exceed targets by Q2 or latest by Q3.

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