NEW DELHI (Economy India): Union Finance Minister Nirmala Seetharaman today chaired a review meeting focused on the capital expenditure (Capex) of the Ministry of Road Transport and Highways and the Ministry of Communications. The primary objective of the meeting was to assess the progress of capital expenditure plans for these ministries and to set targets for the upcoming quarters.
Discussion on Capex Plans
The meeting was attended by secretaries from the Department of Economic Affairs, the Ministry of Road Transport and Highways, and the Ministry of Communications. Detailed discussions were held on the capital expenditure plans for the fiscal year 2024-25.
During the review of the Ministry of Communications, special attention was given to the Bharat Net program, the development of 4G mobile projects based on indigenous technology, spectrum network, and 4G saturation. The estimated capital expenditure budget for the Ministry of Communications for FY 2024-25 is ₹28,835 crore.
The Secretary of Telecommunications provided updates on the progress and goals of the Bharat Net project, stating, “The aim of this project is to provide affordable broadband services to citizens in rural and remote areas.” He also highlighted that with the help of fully indigenous 4G technology, 21,000 4G mobile towers have been set up, serving 3 million consumers so far.
Focus on Road Transport
During the review of the Ministry of Road Transport and Highways, the Finance Minister was briefed on the significant progress in the national highway network over the past decade. The Secretary of MoRTH noted, “There has been nearly a 2.4-fold increase in the average annual construction of national highways during the period of 2014-2024, including the development of 2-lane, 4-lane, and high-speed corridors.”
The Finance Minister also discussed the measures taken to attract private capital and ensure that asset recycling targets are met. She urged the ministries to ensure that the set quarterly targets are achieved on time.
Emphasis on Achieving Targets
Emphasizing the importance of setting and achieving quarterly targets, Finance Minister Nirmala Sitharaman said, “It is essential to meet the targets within the stipulated timelines.” She called on the respective ministries to expedite implementation and make up for the shortfalls in the first and second quarters during the third quarter of FY 2024-25.
Economy India
