Finance Secretary Rajiv Kumar said that 34 central PSUs have already spent ₹48,077 crore till August, and have detailed spending of another ₹50,159 crore till December 2019. Public procurement as a percentage of GDP in the country is estimated between 20 to 22 per cent. With the Indian economy at USD 2.7 trillion, this amounts to public procurement to the tune of USD 500 billion annually. The participating CPSEs presented their capex till August 2019 to the finance minister and explained their plans for the next two quarters. Its capex till August 2019 was Rs 8,777 crore, which was 26.66 per cent of the total planned capex for the fiscal.

Source: The Hindu September 28, 2019 17:03 UTC