+
Finance Minister Reviews Urban Capex Plan
ECONOMY & POLICY

Finance Minister Reviews Urban Capex Plan

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.

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.

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?