To enhance investment in the economy and utilising the substantial cash surpluses available with Central Public Sector Enterprises (CPSEs), the Prime Minister Office (PMO) has set a target of around Rs 1.42 lakh crore for capital expenditure and investment plans of 23 CPSEs including ONGC, Oil India, GAIL, Indian Oil, SAIL and Coal India among others. 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 (CCI).
The PMO has been monitoring the capital expenditure and investment plans of selected public sector enterprises since last fiscal. In the FY13, CPSEs made an investment of Rs 1,11,913 crore against the investment target of Rs 1,41,389 crore, which is almost 80 per cent of the target. This significant performance was attributed to the enhancement in total capital expenditure plans compared with the earlier years and the fast track clearance of mega projects.
