Government eyes excess PSU funds for infra development

NEW DELHI: The government is looking to utilise surplus PSU funds for infrastructure projects to kick-start the investment cycle.


To discuss the suggestion put forth by the National Manufacturing Competitiveness Council, the government has held meetings with heads of various public sector undertakings and secretaries of administrative ministries, Parliament was today informed.

The meeting with PSU chiefs discussed issues "with reference to cash balances, reserves, dividend payout and CAPEX progress," Heavy Industries & Public Enterprises Minister Praful Patel said in a written reply in Lok Sabha.

Last year, cash-rich PSUs were estimated to have surplus funds to the tune of Rs 2.8 lakh crore.