At a meeting chaired by the Prime Minister's Principal Secretary Pulok Chatterjee, 17 companies with cash and bank balance in excess of Rs 1000 crore were identified to undertake these investments primarily in the infrastructure sector whose status will be monitored periodically.

As per the decision, the PSUs will spend Rs 1,41,389 crore domestically in the year 2012-13 and Rs 35,009 crore overseas, sources said here today.

The Principal Secretary observed that the PSU investment can provide stimulus to the economy and asked the companies to draw up credible investment programmes and implement those with "vigour so as to achieve maximum benefit for the companies themselves as well as the national economy."

Among the companies, ONGC is projected to invest the maximum amount of Rs 53,526 crore -- Rs 33,065 crore in domestic market and Rs 20,461 crore overseas.

It is followed by NTPC with Rs 20,995 crore domestically and Power Grid Corporation India Limited with Rs 20,000 crore.

Other companies identified for investments included Oil India Limited, Coal India Limited, BHEL, GAIL, Indian Oil Corporation, Engineers India Limited and SAIL, they said.

It was decided at the meeting that the CMDs of the companies would ensure that the projected investment plans are realised to the fullest extent, the sources said.

The administrative secretary would review the status on a monthly basis to ensure that "any bottlenecks" external to the company are resolved expeditiously.

Member Secretary of the National Manufacturing Competitiveness Council (NMCC), set up by the government to help boost growth of manufacturing sector, would review the status with the concerned administrative secretaries and CMD on a quarterly basis and apprise the PMO for follow up.

Discussing the investment plan of Coal India, the meeting noted that the company has cash and bank balance in excess of Rs 40,000 crore but has been able to project an investment plan of only Rs 4275 crore for 2012-13 with the possibility of another Rs 6,000 crore on acquisition of overseas assets.

The Secretary of the Coal Ministry and CMD of Coal India were asked to review the position and attempt to advance some investments that have been planned in future years, the sources said.

In case it is not possible to significantly step up investment in the coal sector, CIL should actively consider investment in allied sectors such as roads, railways,

waterways and power sector which would help the coal sector through improved evacuation and utilisation of coal, it was told.