FinMin examines Capex urban development plan and railway ministries

To push investment in infrastructure projects, the finance ministry on Wednesday reviewed the progress of investment spending (Capex) of the ministries of urban planning and railways.

The Union budget for 2021-22 provides for a down payment of Rs 5.54 lakh crore, an increase of 34.5% compared to the budget estimate for 2020-21.

“To push investments in infrastructure projects and accelerate capital spending, @FinMinIndia today hosted review meetings with @MoHUA_India and @RailMinIndia, to review the status of capital spending, the implementation of infrastructure projects and asset monetization plans, ”the finance ministry said in a tweet.

Economic Secretary Ajay Seth and senior officials from these two ministries attended the meeting.

During the meeting, he said, the secretary of the Ministry of Housing and Urban Affairs, Durga Shanker Mishra, expressed confidence in the achievement of the National Infrastructure Pipeline (NIP) investment goal of over Rs 3 lakh crore in fiscal year 22.

Railways Council Chairman Suneet Sharma said freight loading increased by more than 21% from last year and the Ministry of Railways achieved 92% of NIP targets set for the first and second quarters of fiscal year 22.

He also expressed hope to achieve NIP Capex targets of over Rs 2 lakh crore during the current fiscal year.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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