"At this stage, my intention is to make sure that the government does not sit on payments which are due, govt does not sit on CAPEX (capital expenditure) which it had planned," FM said.
FM said, "I have called for ministries to provide their CAPEX plans for the next four quarters. The details are expected to come within a week."
She further said, that almost to 90 per cent of the outstanding GST dues hadbeen clearedas of August 23, whenthe GST refunds were first mentioned by her.
The expenditure secretary said that the total capex spend at 42 per cent till August-end.
Finance Minister during the press meet: Tomorrow, we'll have a separate meeting with different agencies of public sector undertaking and other agencies which come under different ministries.
Earlier, in a report, the Finance minister said that thetotal liabilities of the government increased to Rs 88.18 lakh crore at end-June 2019 from Rs 84.68 lakh crore at end-March 2019, according to the latest data on public debt.
Public debt accounted for 89.4 per cent of total outstanding liabilities at end-June 2019, the quarterly report on public debt management released on Friday, said.
Finance Minister Nirmala Sitharaman met with the private sector lenders on Thursday. In the press meet she held post the meet, she spoke on the affordable housing scheme loans, service sector contribution, PMC bank crisis, and demand for loans from MFIs.
Most banks to follow external benchmark based lending from October 1, Uday Kotak, executive vice-chairman and managing director of Kotak Mahindra Bank, told after FM's meeting with private sector bankers.
She hoped that with the arrival of festive season, things in many sectors may look up even with stress in one or two of them. She hoped that the economy will look up in the coming half of the year.
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"Message I get from this meeting today is that consumption is happening. Demand will get back and motivate our economy to move at a faster rate. The coming half year, things will have to lookup and pep up every other sector, even if there are 1 or 2 sectors in which there may be some stress," says the Finanace Minister.
FM Sitharaman on PMC Bank crisis: At this stage, RBI is handling it. Let there a comprehensive picture emerge, post that the govt will have to see what best can be done so that there is some assurance given to people who are affected.
Private investment will respond with reduction in corporate tax. Banks will be willing to underwrite such investments, saysUday Kotak.