undertakings (CPSUs) will invest Rs.140,000 crore in the coming year.
"I am extremely happy to learn that 17 of our largest CPSUs have
committed to investment plans amounting to Rs.140,000 crore in the
coming year," he said, addressing a function here.
"Public investment is particularly needed at a time, when the country
is facing a difficult global environment, and looking to domestic
drivers of growth," the prime minister said, adding that he would
encourage the CPSU to also boost capital investments.
Investment from CPSUs is mainly concentrated in manufacturing, mining,
electricity and services sector.
Manmohan Singh said that the country's mining sector should step up
production of coal, petroleum and natural gas as the cost of importing
these minerals have shot up.
"We must step up our performance in mining, particularly in the
production of coal, petroleum and natural gas," he said.
The prime minister urged CPSUs in the mining sector to explore
opportunities for acquiring foreign mineral assets as recently a
proposal for acquisition of raw material assets abroad had been
approved by the cabinet.
He also emphasised the need to expand the share of manufacturing
sector in the country's gross domestic product (GDP) which currently
stands at 15 percent.
"I would urge the CPSEs (central public sector enterprises) in these
(manufacturing) areas to embark upon ambitious plans of expansion to
make the target of 12 to 14 percent growth in the manufacturing sector
a living reality," he said.
The prime minister also stressed that the CPSEs need to focus on good
corporate governance, strategic planning, innovation, research and
development (R&D) and greater attention to quality control for staying
competitive.
read more at http://www.pravasitoday.com/17-central-psus-to-invest-rs-140000-crore-pm
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