Centre approves Rs. 56,415 crores to 16 States for Capital Investment in current Financial Year
The Centre has approved 56 thousand 415 crore rupees to 16 States for Capital Investment under the ‘Special Assistance to States for Capital Investment 2023-24’ scheme in the current financial year. The investments cover various sectors, including health, education, irrigation, water supply, power, roads, bridges, and railways. It aims for giving a timely boost to capital spending by the States. Funds for meeting the State share of the Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana have also been provided to the States under this scheme. The movement is expected to enhance the project pace in these sectors.
The Special Assistance to States for Capital Investment 2023-24 scheme was announced in the Union Budget 2023-24, to provide a boost to capital spending by states. It offers 50-year interest-free loans totalling 1.3 lakh crore rupees to State governments during the financial year 2023-24. The 16 beneficiary States include Arunachal Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Mizoram, Odisha, Rajasthan, Sikkim, Tamil Nadu, Telangana and West Bengal.
