Wednesday, October 20, 2021
Home Business Government Clears Projects Worth Rs 2,900 Crore In 8 States

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


Government has released funds for states to help them meet their capex requirements

Government has cleared projects worth Rs 2,900 crore in eight states under its scheme for providing special assistance to them for capital expenditure in the current financial year. To allow states to implement these projects, Finance Ministry has released funds worth Rs 1,393 crore to them, till date.

The eight states where projects have been approved are Punjab, Bihar, Madhya Pradesh, Chhattisgarh, Himachal Pradesh, Maharashtra, Telangana and Sikkim.

The special assistance to states for capital expenditure for 2021-22 was launched by the Centre in April 2021 in order to provide financial help to states, keeping in mind the rising financial burden on them to manage their capital expenditure due to the raging second wave of the Coronavirus pandemic.

The scheme provides financial help to states through a 50-year interest free loan up to an overall amount not crossing Rs 15,000 crore during the current financial year.

There are three components to the scheme. Under the first part, the eight north-eastern states are provided funds along with the two hill states of Uttarakhand and Himachal Pradesh.

In the second part, funds are provided to all those states which don’t fall in the first part and the amount is allotted to states as per the proportion of their share of central taxes decided by the Finance Commission for 2021-22.

The third part of the scheme is meant for incentivising states for privatising or initiating disinvestment of state public sector enterprises. Here the states are given additional funds over and above the money released to them in the first two parts, to achieve the objective of disinvestment.



Source link

RELATED ARTICLES

Retail Inflation For Farm, Rural Labourers Slid In September

<!-- -->Retail inflation for farm and rural labourers fell in September 2021Retail inflation for farm and rural labourers witnessed a slide in September...

Stripe acquires Bengaluru-based payments software firm Recko

Stripe, one of the world's most valued fintech companies, on Wednesday said that it has acquired Bengaluru-based provider of payments reconciliation software Recko,...

Tech View: Nifty50 slips below 5-day SMA, hints at further weakness

NEW DELHI: Nifty50 on Wednesday closed below its 5-day moving average (DMA) and in the process formed a bearish candle on the daily...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Dubai Customs signs e-com cooperation deals with DAFZA, Dubai South

To position the emirate of Dubai as a global logistics hub for cross-border e-commerce operations,...

Here are the Snapdragon 898 and Dimensity 2000 leaked specifications | Pocketnow

A well-known leaker shared some of the much anticipated and upcoming Qualcomm Snapdragon 898 Soc specifications and MediaTek Dimensity 2000 chipsets. The leaked...

Bomb hits security vehicle in northwest Pakistan, killing 4

A roadside bomb struck a vehicle carrying security forces in a former stronghold of local militants in northwest Pakistan on Wednesday, killing four,...

Kohli dons bowler’s hat in warm-up match against Australia

The T20 World Cup warm-up match between India and Australia will be remembered, among other things, as the day when Virat Kohli broke...

Recent Comments