Sunday, 24 October, 2021
HomeBusinessGovernment Clears Projects Worth Rs 2,900 Crore In 8 States

Government Clears Projects Worth Rs 2,900 Crore In 8 States

Authorities has launched funds for states to assist them meet their capex necessities

Authorities has cleared tasks price Rs 2,900 crore in eight states below its scheme for offering particular help to them for capital expenditure within the present monetary 12 months. To permit states to implement these tasks, Finance Ministry has launched funds price Rs 1,393 crore to them, until date.

The eight states the place tasks have been accepted are Punjab, Bihar, Madhya Pradesh, Chhattisgarh, Himachal Pradesh, Maharashtra, Telangana and Sikkim.

The particular help to states for capital expenditure for 2021-22 was launched by the Centre in April 2021 with the intention to present monetary assist to states, conserving in thoughts the rising monetary burden on them to handle their capital expenditure as a result of raging second wave of the Coronavirus pandemic.

The scheme offers monetary assist to states by means of a 50-year curiosity free mortgage as much as an general quantity not crossing Rs 15,000 crore through the present monetary 12 months.

There are three elements to the scheme. Beneath the primary half, the eight north-eastern states are supplied funds together with the 2 hill states of Uttarakhand and Himachal Pradesh.

Within the second half, funds are supplied to all these states which do not fall within the first half and the quantity is allotted to states as per the proportion of their share of central taxes determined by the Finance Fee for 2021-22.

The third a part of the scheme is supposed for incentivising states for privatising or initiating disinvestment of state public sector enterprises. Right here the states are given extra funds over and above the cash launched to them within the first two components, to realize the target of disinvestment.

Most Popular

English English हिन्दी हिन्दी ਪੰਜਾਬੀ ਪੰਜਾਬੀ