Government looking to tap excess PSU funds for infra development
The government is looking to utilize surplus PSU funds for infrastructure projects to kick-start the investment cycle.
National Manufacturing Competitiveness Council has put forth the suggestion and the government has held meetings with heads of various public sector undertakings and secretaries of administrative ministries, as informed to the Parliament.
Heavy Industries & Public Enterprises Minister, Praful Patel said regarding the meeting with PSU chiefs discussed issues in a written reply in Lok Sabha that he meeting was, “with reference to cash balances, reserves, dividend payout and CAPEX progress.”
PSUs were estimated to have surplus funds to the tune of Rs 2.8 lakh crore last year.
Source: The Economic Times
Government, Heavy Industries & Public Enterprises Minister, Lok sabha, National Manufacturing Competitiveness Council, Parliament, Praful Patel, PSU
