Finance Minister Reviews Urban Capex Plan

24 Sep 2024 CW Team

Union Finance Minister Nirmala Sitharaman reviewed the capital expenditure (capex) plans of the Ministry of Housing and Urban Affairs, emphasizing the timely and effective utilization of funds, particularly for the Pradhan Mantri Awas Yojana (Urban) scheme, which aims to address affordable housing in urban India. Sitharaman stressed the importance of accelerating the scheme's progress to meet the country’s housing needs.

As part of the ongoing reviews of ministries with significant capex allocations, the meeting focused on ensuring the efficient use of the ?28,628 crore earmarked for the financial year 2024-25. Sitharaman urged the ministry to meet its capex targets for FY 2024-25 and fully utilize the budget by the end of the financial year.

The Finance Minister also highlighted the importance of urban transport projects, specifically urging officials to meet capex targets for Metro Rail and the Regional Rapid Transit System (RRTS), both critical to enhancing urban connectivity and infrastructure.

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