CPSEs Exceed CAPEX Targets, Boosting India's Economic Growth

The Department of Public Enterprises reports that Central Public Sector Enterprises (CPSEs) have consistently surpassed capital expenditure targets, contributing significantly to infrastructure development and economic growth. With enhanced financial powers and upgraded statuses, CPSEs are poised to drive capital-intensive projects critical to India's progress.

Central Public Sector Enterprises (CPSEs) have consistently exceeded their capital expenditure (CAPEX) targets, substantially contributing to infrastructure development and economic activities in India, according to the Department of Public Enterprises (DPE). As of November 30, 2024, CAPEX spending for the fiscal year 2024-25 reached 56.84% of the set target, reflecting strong progress.

Over the past years, CPSEs have not only met but surpassed their CAPEX goals. For the fiscal year 2022-23, the target was Rs 6.45 lakh crore, yet the achievement crossed Rs 6.48 lakh crore. The growth momentum carried into FY2023-24 with a staggering Rs 8.05 lakh crore achieved against a Rs 7.41 lakh crore target, marking over 108% success. This trend continues in FY2024-25 with Rs 4.41 lakh crore spent by the end of November.

In a move to enhance efficiency, the government has upgraded nine CPSEs to Navratna status, including the likes of NFL, NHPC, and Railtel Corporation, and Hindustan Aeronautics Limited (HAL) to Maharatna. These upgrades empower CPSEs, enabling them to spearhead capital-intensive projects, thereby fostering employment and ensuring economic resilience.

(With inputs from agencies.)