To push funding in infrastructure initiatives, the finance ministry on Wednesday reviewed the progress of capital expenditure (Capex) by the city improvement and railway ministries.

Union Funds for 2021-22 has offered a capital outlay of Rs 5.54 lakh crore, a rise of 34.5 per cent over the Funds Estimate of 2020-21.

“To push funding in infrastructure initiatives and speed up capital spending, @FinMinIndia held assessment conferences with @MoHUA_India and @RailMinIndia immediately, to assessment the progress of capital expenditure, implementation of infrastructure initiatives and asset monetization plans,” the finance ministry mentioned in a tweet.

Financial Affairs Secretary Ajay Seth and senior officers of those two ministries had been current within the assembly.

In the course of the assembly, it mentioned, Ministry of Housing and City Affairs Secretary Durga Shanker Mishra expressed confidence in attaining the Nationwide Infrastructure Pipeline (NIP) Capex goal of over Rs 3 lakh crore in FY22.

Chairman Railway Board Suneet Sharma highlighted that freight loading has elevated by greater than 21 per cent in comparison with final yr, and the railway ministry has achieved 92 per cent of NIP targets set for Q1 and Q2 FY22.

He additionally expressed hope of assembly the NIP Capex targets of over Rs 2 lakh crore throughout the present fiscal.

(Solely the headline and film of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)

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