Finance Minister Nirmala Sitharaman Reviews Capex Progress for Road, Transport, and Telecom Sectors

New Delhi: In a series of upcoming review meetings, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, will assess the progress of Capital Expenditure (Capex) by various ministries and departments with significant outlays. The first such meeting, held today, focused on the Ministry of Road, Transport and Highways, and the Department of Telecom, Ministry of Communication.

The meeting was attended by the Secretaries from the Department of Economic Affairs, Ministry of Road, Transport and Highways (MoRTH), and Department of Telecom (DoT), who presented updates on their respective Capex plans and progress.

Sitharaman reviewed the Capex plans for FY2024-25, which include key projects such as the Bharat Net Programme, 4G mobile projects utilizing indigenous technology, and efforts toward 4G saturation and enhanced mobile connectivity in rural and remote areas. The Capex allocation for the Ministry of Communication for the current fiscal year stands at ₹28,835 crore.

The Secretary of DoT provided a detailed update on the progress of the BharatNet project, which aims to deliver affordable broadband services to rural communities. He also discussed the 4G saturation project, which targets aspirational districts and blocks to ensure seamless connectivity in underserved areas. Notably, the Secretary highlighted that over 21,000 4G mobile towers have been deployed using fully indigenous technology, serving 3 million consumers. The DoT remains confident in achieving all targets within the set timelines.

During the review with MoRTH, the Secretary informed the Finance Minister of significant growth in National Highway construction over the last decade. From 2014 to 2024, the average annual construction of highways increased by 2.4 times compared to the preceding decade, focusing on expanding 2-lane highways, 4-lane corridors, and high-speed corridors.

For FY2024-25, the Capex allocation for MoRTH is ₹2.72 lakh crore, reflecting a 90% increase from ₹1.42 lakh crore in FY2019-20. The Ministry is also working to attract private investment through innovative financial measures and remains on track to meet its asset recycling targets.

Sitharaman emphasized the importance of setting quarterly targets for meaningful public asset creation and urged both ministries to expedite their implementation efforts. She stressed the need to make up for any shortfalls in the first two quarters by accelerating progress in Q3 FY2024-25.

capital expenditureNirmala Sitharaman