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Tuesday, Oct 15, 2019

Nirmala Sitharaman asks government departments to not sit on ‘overdue’ payments

Finance minisyer Nirmala Sithraman also said that ministries have been asked to provide detailed capital expenditure plans for the next four quarters as the government looks to boost growth with spending push.

india Updated: Sep 27, 2019 18:37 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
Nirmala-Sitaraman-discusses-Companies-Act-with-stakeholders
Nirmala-Sitaraman-discusses-Companies-Act-with-stakeholders(HT File Photo )
         

A day after her “tonic-like” meeting with private sector banks and other financial institutions where she said she did not hear anybody talk about liquidity problems, Finance Minister Nirmala Sitharaman on Friday urged government departments to pay back all dues they owe to MSMEs and goods suppliers on time.

The Finance Minister, at a press briefing in Delhi, said she was meeting with the representatives of public sector units on Saturday to ensure there were no outstanding GST dues.

“Government should not sit on overdue payments,” Sitharaman said, adding the money should go to people who have been waiting for it.

The money should reach the ground, she added.

Concerns have been raised by micro, small and medium enterprises that their payments were not being cleared by the different wings of the government within time.

The minister also said that ministries have been asked to provide detailed capital expenditure plans for the next four quarters as the government looks to boost growth with spending push.

Sitharaman also said that the government’s capital expenditure was on track and Budget estimates would be met.

The consumption was on rise and credit offtake was growing, which together should result in “buoyancy” in the economy, she added.

To a query on the fiscal discipline with rebate in corporate tax and expenditure, the minister said the government will reconcile fiscal deficit numbers later.

(With PTI inputs)

First Published: Sep 27, 2019 18:37 IST

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