In a bid to boost demand in the economy by spurring public sector investment, the Finance Ministry on Friday held a meeting with the heads of public sector firms and decided to set up a dashboard to constantly monitor the investments made by Ministries and PSUs.
It also asked the Ministries and CPSEs to expedite the payment of pending dues for their procurements.
“In order to boost capital expenditure of the Union government so as to pump liquidity in the market to boost demand, Finance Ministry of Finance held meeting with the heads of Maharatna and Navratna Central Public Sector Enterprises (CPSEs) and Financial Advisors (FAs) of infrastructure Ministries,” the government said in a release.
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“Ministry of Finance would constantly monitor the progress of large infrastructure projects for the Ministries as well as the CPSEs, and follow-on meetings would be held,” the government said in a release. “For this purpose, the Ministry [of Finance] will develop a dashboard for enabling Ministries to upload figures on a periodic basis,” it added.
The meeting was co-chaired by Economic Affairs Secretary Atanu Chakraborty and Expenditure Secretary G.C. Murmu.
The meeting also covered the capital expenditure by various the CPSEs and Ministries, which were told to adhere to the expenditure plans and accelerate investment activities. The Ministries and CPSEs were also asked to monitor and release payments for procurements and other contracts without delay. They were also asked to fast-track the resolution of outstanding payments that have been held up on account of disputes.
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