New Delhi: The central government is doing everything possible to deal with the ongoing recession in the country. The government has taken several steps in the past. The government is now thinking of trying to deal with it with the help of PSUs. The Finance Ministry has directed all PSUs to spend the entire amount they have planned to spend as capital expenditure.
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Also, vendors have been asked to ensure timely payment of the purchased goods. In this case, there will be an increase in business activity which will give a boost to the economy.
Finance Ministry officials gave instructions in this regard in a meeting of the chiefs and officials of Maharatna and Navratna PSUs on Friday. Financial Advisor to the Structural Ministries was also present in the meeting held in the presence of Atanu Chakraborty, Secretary, Department of Economic Affairs, Ministry of Finance, and GC Mumru, Secretary, Department of Expenditure. The capital expenditure of various ministries and PSUs were reviewed during the meeting.
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They were asked to meet the target of capital expenditure and increase investment activities. It was also emphasized in the meeting that payment should be made in a timely manner for the purchases made by PSUs. If the payment of a company is stuck due to a dispute, then it was also discussed to settle it. The Finance Ministry will oversee the large infrastructure projects of various PSUs and other ministries, and such meetings will be held further.
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