Finmin relaxes norms for expenditure exceeding Rs 500 crore to give boost capex

The finance ministry has relaxed norms for expenditures above Rs 500 crore to expedite capital expenditure, pegged at Rs 11.11 lakh crore for the current fiscal year. This initiative aims to enhance government spending, which had slowed due to elections. The relaxation mandates strict compliance by all ministries and departments.