The Prime Minister Office (PMO) has set a target of approximately Rs 1.42 lakh crore for capital expenditure and investment plans of 23 Central public sector enterprises (CPSEs), and will monitor these on a quarterly basis.

These companies include ONGC, Oil India, GAIL, Indian Oil, SAIL, NMDC, PowerGrid, NHPC, NTPC, and Coal India besides others.

Principal Secretary to the Prime Minister Pulok Chatterji reviewed the plan here on Monday along with the Chairman and Managing Directors and senior officials of these companies, besides Secretaries of the administrative Ministries.

“The progress in achieving these targets would be monitored on a quarterly basis by the PMO to ensure that there are no slippages. In case of any issue relating to clearances, CPSE CMDs were asked to bring these to the notice of the Cabinet Committee on Investment,” a statement issued after the meeting said.

The PMO has been monitoring the capital expenditure and investment plans of select CPSEs since last fiscal. The purpose of this exercise was to enhance investment in the economy and utilising the substantial cash surpluses available with some of these CPSEs to drive growth. 

It was also decided to add seven more companies to the list from the last fiscal to take the total number to 23. The companies added include Manganese Ore India, RINL, SJVN, Bharat Dynamics, HAL, Mazagaon Docks and Nuclear Power Corporation.

The statement also said that against the target of Rs 1,41,389 crore, a total of 17 CPSEs achieved an investment target of Rs 1,11,913 crore in 2012-13, which is almost 80 per cent of the target.

This performance has to be seen in the context of the significant enhancement in total capital expenditure plans compared with the earlier years and the problems faced on clearances, it mentioned.

shishir.sinha@thehindu.co.in

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