Authorities has launched funds for states to assist them meet their capex necessities
Authorities has cleared initiatives value Rs 2,900 crore in eight states underneath its scheme for offering particular help to them for capital expenditure within the present monetary yr. To permit states to implement these initiatives, Finance Ministry has launched funds value Rs 1,393 crore to them, until date.
The eight states the place initiatives have been authorized 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 a view to present monetary assist to states, retaining in thoughts the rising monetary burden on them to handle their capital expenditure because of the raging second wave of the Coronavirus pandemic.
The scheme supplies monetary assist to states by a 50-year curiosity free mortgage as much as an total quantity not crossing Rs 15,000 crore through the present monetary yr.
There are three elements to the scheme. Below the primary half, the eight north-eastern states are offered funds together with the 2 hill states of Uttarakhand and Himachal Pradesh.
Within the second half, funds are offered 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 further funds over and above the cash launched to them within the first two components, to attain the target of disinvestment.
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