Union Finance Minister Nirmala Sitharaman recently reviewed the capital expenditure plans for the Ministry of Housing and Urban Affairs, emphasizing the need for timely and efficient use of the allocated INR 28,628 crore for the financial year 2024-25. She urged officials to meet the capex targets within the designated timeframe and fully utilize the budget by year-end. Additionally, Sitharaman highlighted the importance of urban transport, calling for progress on the Metro Rail and Regional Rapid Transit System (RRTS) projects to address urban housing needs effectively.
Union Finance Minister Nirmala Sitharaman recently reviewed the capital expenditure (capex) plan of the Ministry of Housing and Urban Affairs, highlighting the importance of timely and efficient use of these funds. A significant aspect of the discussions centered around the Pradhan Mantri Awas Yojana (Urban) scheme, which is vital for delivering affordable housing.
In a post on X, the finance ministry noted that Union Finance Minister Smt. @nsitharaman emphasized the need to accelerate progress under this scheme to address the housing needs of urban India. This meeting was part of ongoing reviews with various Ministries and Departments that hold substantial capex allocations in the Union Budget.
For the financial year 2024-25, a budgetary allocation of INR 28,628 crore has been designated for capital expenditure. During the meeting, the Finance Minister stressed the importance of timely and efficient use of these funds, as stated by the ministry.
Sitharaman urged officials from the Urban Affairs Ministry to ensure that the capex target for FY 2024-25 is achieved within the specified timeframe and that the entire budgeted amount is fully utilized by the end of the financial year. She also highlighted the significance of urban transport, calling on officials to meet the capex targets set for the Metro Rail and the Regional Rapid Transit System (RRTS).
The review by Union Finance Minister Nirmala Sitharaman underscores the government's commitment to enhancing urban infrastructure and affordable housing through effective capital expenditure. By prioritizing timely fund utilization and setting clear targets for the financial year 2024-25, the Ministry of Housing and Urban Affairs aims to address the pressing housing needs in urban areas. The focus on urban transport projects like the Metro Rail and Regional Rapid Transit System (RRTS) further demonstrates the holistic approach to developing sustainable urban environments, fostering economic growth and improving quality of life for citizens.
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