On Friday, Finance Minister Nirmala Sitharaman conducted a critical review of the capital expenditure (capex) plans for the Ministry of Housing and Urban Affairs, underlining the need for timely and efficient utilization of the allocated funds. This review is part of an ongoing series of assessments with various ministries and departments that have substantial capex allocations from the Union Budget.

A significant aspect of the discussions revolved around the Pradhan Mantri Awas Yojana (Urban) scheme, which is pivotal in addressing the pressing affordable housing needs of urban India. Sitharaman emphasized the importance of accelerating progress under this scheme, aiming to meet the growing housing demands in urban areas. The finance ministry highlighted her commitment to ensuring that all budgeted funds are utilized effectively.

For the financial year 2024-25, the government has earmarked Rs 28,628 crore for capital expenditure in this sector. Sitharaman urged officials from the Urban Affairs Ministry to meet the capex targets within the stipulated time frame and to fully utilize the allocated budget by the end of the financial year.

In addition to housing, Sitharaman also placed a strong emphasis on urban transport initiatives, directing officials to ensure that capex targets for projects like Metro Rail and the Regional Rapid Transit System (RRTS) are met. These projects are crucial for enhancing urban mobility and improving the overall infrastructure in metropolitan regions.

The review reflects the government’s commitment to sustainable urban development and efficient infrastructure planning, aiming to uplift living standards through strategic investment in housing and transport. As the ministry prepares to implement these plans, the focus remains on ensuring accountability and transparency in the utilization of public funds.

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