11-02-2021 12:01 PM | Source: Accord Fintech
Finance Minister urges power, coal ministries to fast-track capex plan
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Asserting that infrastructure projects are a priority for the government, Finance Minister Nirmala Sitharaman has reviewed the progress of capital expenditure by the ministries of power and coal and asked them to ensure that project implementation is fast-tracked.

The finance minister emphasized there must be close monitoring for infrastructure spending on-ground and ministries must continuously make concerted efforts, including enhanced coordination with all states, to ensure that project implementation is fast-tracked. She directed officials in Department of Economic Affairs (DEA) to work in close coordination with ministries /departments to ensure that project implementation via civil works is not hampered due to any lack of coordination amongst agencies (like contractors), or by delay in procurement of necessary equipment from international markets.

Sitharaman observed that it must increase outreach to states to facilitate project implementation by obtaining necessary clearances in time. She said efforts must be made to ensure timely completion of projects. In review with the Department of Atomic Energy, the finance minister stressed on the need to track civil works closely and take proactive steps regarding procurement of key international equipment in coordination with external affairs and economic affairs departments.