The Ministry of Finance has approved capital investment proposals of ₹56,415 crore for 16 States in the current financial year under a special assistance scheme announced in the Budget.
In order to boost capital spending by States, the 'Special Assistance to States for Capital Investment 2023-24' scheme was announced in the Union Budget 2023-24. Under the scheme, special assistance is being provided to the States in the form of a 50-year interest-free loan up to an overall sum of ₹1.3 lakh crore during the financial year 2023-24.
The Department of Expenditure has approved capital investment proposals of ₹56,415 crore to 16 States in the current financial year under the ‘Special Assistance to States for Capital Investment 2023-24’ scheme, a Finance Ministry statement said.