- May 13, 2024
Large PSUs spend over Rs 50,200cr in capex in April – Times of India
NEW DELHI: Large public sector companies have spent a little over Rs 50,200 crore towards capital expenditure in April FY25 alone, which is nearly 6.5% of their full fiscal target of nearly Rs 7.8 lakh crore, an official said.
The pace albeit is slower than Rs 54,177 crore capex spent in April FY24, about 7.3% of the full year budget target of over Rs 7.4 lakh crore.”The capex spending will pick up going forward. Also, the numbers for April are still provisional and will go up in the revised final numbers,” the official said.
The capital expenditure during the first month of 2024-25 fiscal was driven by railways, road, and oil and gas sectors. The Indian Railways and sector PSUs spent Rs 26,641 crore in April, followed by National Highways Authority of India (NHAI) at Rs 6,645 crore. Among oil and gas sector PSUs, ONGC incurred capex of Rs 2,318 crore, Indian Oil Corporation (IOC) Rs 2,423 crore in the first month of the current financial year.
Hindustan Petroleum and Bharat Petroleum spent Rs 1,155 crore and Rs 417 crore, respectively in April.
Power sector PSU NTPC spent Rs 2,083 crore.
The finance ministry tracks capital expenditure of public sector undertakings (PSUs) that have an annual investment target of over Rs 100 crore. The Interim Budget for 2024-25 set a cumulative capital expenditure target of over Rs 9 lakh crore for all public sector undertakings.
Of this, around Rs 7.8 lakh crore worth capex is to be spent by PSUs with over Rs 100 crore of annual capital expenditure target. In 2023-24, large PSUs spent around Rs 8.1 lakh crore towards capex, exceeding the Budget target of over Rs 7.4 lakh crore.
The pace albeit is slower than Rs 54,177 crore capex spent in April FY24, about 7.3% of the full year budget target of over Rs 7.4 lakh crore.”The capex spending will pick up going forward. Also, the numbers for April are still provisional and will go up in the revised final numbers,” the official said.
The capital expenditure during the first month of 2024-25 fiscal was driven by railways, road, and oil and gas sectors. The Indian Railways and sector PSUs spent Rs 26,641 crore in April, followed by National Highways Authority of India (NHAI) at Rs 6,645 crore. Among oil and gas sector PSUs, ONGC incurred capex of Rs 2,318 crore, Indian Oil Corporation (IOC) Rs 2,423 crore in the first month of the current financial year.
Hindustan Petroleum and Bharat Petroleum spent Rs 1,155 crore and Rs 417 crore, respectively in April.
Power sector PSU NTPC spent Rs 2,083 crore.
The finance ministry tracks capital expenditure of public sector undertakings (PSUs) that have an annual investment target of over Rs 100 crore. The Interim Budget for 2024-25 set a cumulative capital expenditure target of over Rs 9 lakh crore for all public sector undertakings.
Of this, around Rs 7.8 lakh crore worth capex is to be spent by PSUs with over Rs 100 crore of annual capital expenditure target. In 2023-24, large PSUs spent around Rs 8.1 lakh crore towards capex, exceeding the Budget target of over Rs 7.4 lakh crore.
