Spending 50% of capex target by September: An uphill task for PSUs

India’s top state-run companies in oil, power, metals, and mining have a capital expenditure (capex) of Rs 1.22 trillion on the go for this financial year but experts see execution challenges in the Union finance ministry’s recent directive asking them to expedite the spending. Most of the first quarter saw lockdown-related challenges, and various states are yet to completely unlock. Besides, labour shortage continues and work-related travel is still to normalise. With the current restrictions and time lost in the June quarter, the September deadline would be an uphill task, .....

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