Center clears interest-free loan to 16 states for infrastructure; released loan of Rs.56,415 crore for 50 years
Government has approved capital investment proposals worth Rs.56,415 crore in 16 states in the current financial year, under the scheme entitled ‘special assistance to states for capital investment 2023-24’.
In view of a higher multiplier effect of capital expenditure and in order to provide a boost to capital spending by states, the scheme was announced in the Union Budget 2023-24.
Official sources have said that capital investment projects in diverse sectors have been approved including health, education, irrigation, water supply, power, roads, bridges, and railways.
Funds for meeting the state share of the Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana have also been provided to states under this scheme to enhance the pace of the projects in these sectors.
Another objective of the scheme is to promote national integration, carry forward the concept of ‘Make in India‘, and promote the concept of ‘One District, One Product‘ (ODOP) through the construction of Unity Mall in each state.
Under the scheme, special assistance is being provided to the state governments in the form of a 50-year interest-free loan up to an overall sum of Rs.1.3 lakh crore during 2023-24.
The scheme also aims at increasing the housing stock for police personnel and their families within the police stations in urban areas.
[With Inputs from IANS]
PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views
For all the latest updates, download PGurus App.
- UP: Communal tension prevails as vendor Shanu Ahmad pours hot tea on teenager dressed as a member of Hanuman’s Vanar Sena - September 29, 2023
- ICICI Lombard stock plummets after company receives GST show cause notice of Rs.1728 cr - September 28, 2023
- Indian economy will double in 10 years: Tata Chemicals CEO - September 28, 2023