Finance minister Nirmala Sitharaman asks ministries to set quarterly capex targets

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New Delhi: Finance minister Nirmala Sitharaman called on various ministries and departments to expedite capital spending and set quarterly targets.

On Tuesday, Sitharaman chaired the first of a series of meetings lined up to review the productive spending, and the resultant asset creation, across infrastructure and other ministries. She held meetings with the ministries of road, transport and highways, and communication.

She asked them to meet the targets well on time to make up for the decline, witnessed in the first and second quarters of this fiscal, in the third quarter itself, the finance ministry said in a statement.

The spending on national highways, targets for award and construction in the coming quarters of this fiscal, attracting private capital through various measures and meeting asset recycling targets were deliberated in the meeting, according to the statement.

Similarly, the FY25 capex plans for Bharat Net programme, 4G mobile projects-indigenous technology, network for spectrum, and 4G saturation-and other mobile projects were discussed.

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