fm-reviews-urban-affairs-capex-focus-on-pmay

Finance Minister Nirmala Sitharaman conducted a review on Friday of the capital expenditure (capex) plan for the Ministry of Housing and Urban Affairs, stressing the importance of timely and efficient use of funds. 

A significant focus of the meeting was the Pradhan Mantri Awas Yojana (Urban) scheme, which is vital for providing affordable housing. "Union Finance Minister Smt. @nsitharaman underscored the importance of accelerating progress under this scheme to meet the housing needs of urban India," the finance ministry stated in a post on X.

Union Minister for Finance and Corporate Affairs Smt. @nsitharaman today chaired a review meeting in New Delhi to assess the budgeted Capital Expenditure #Capex of the Ministry of Housing and Urban Affairs @MoHUA_India.

This meeting was part of a series of ongoing reviews with… pic.twitter.com/AXpDEHlqcp

— Ministry of Finance (@FinMinIndia) September 20, 2024

This meeting is part of a broader series of reviews with ministries and departments that have substantial capex allocations in the Union Budget. For the financial year 2024-25, a total of ₹28,628 crore has been allocated for capital expenditure.

During the discussions, Sitharaman urged Urban Affairs Ministry officials to ensure that the capex target for FY 2024-25 is achieved on schedule and that the entire budgeted amount is fully utilised by the end of the financial year.

She also highlighted the importance of urban transport, calling for officials to meet capex targets for the Metro Rail and the Regional Rapid Transit System (RRTS).