News Karnataka
Saturday, February 04 2023
Economy

Capital Expenditure projects worth over Rs 2,900 cr  approved by Centre for 8 states

Capital Expenditure projects worth over Rs 2900 cr  approved
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New Delhi: The Centre has approved Capital Expenditure projects worth Rs 2,903.80 crore in eight states.

According to the Ministry of Finance, the projects have been approved under a scheme titled ‘Special Assistance to States for Capital Expenditure for 2021-22’.

Besides, the ministry has released an amount of Rs 1,393.83 crore to these states.  These include Bihar, Chhattisgarh, Himachal Pradesh, Madhya Pradesh, Maharashtra, Punjab, Sikkim and Telangana.

The centre launched the scheme in April 2021.  It provides resources to the state governments in the wake of the second wave of the Covid-19 pandemic.

The scheme aims to provide a special assistance to the state governments. It gives a 50-year interest free loan up to an overall sum not exceeding Rs 15,000 crore during FY22.

The scheme has three parts. The first provides assistance to the northeasten states. The second is for the rest of the states. The third provides incentives to those states which go for disinvestment of state public sector enterprises (SPSEs) and recycling of assets.

The ‘Special Assistance to States for Capital Expenditure for 2020-21’ also launched in the last financial year.

Under the scheme, capital expenditure proposals of Rs 11,911.79 crore of 27 states were approved by the Department of Expenditure, and an amount of Rs 11,830.29 crore was released to the states in 2020-21.

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