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Centre approves capex projects worth over Rs 2,900 cr in 8 states
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SME Times News Bureau | 26 Sep, 2021
The Centre has approved capital 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, namely Bihar, Chhattisgarh, Himachal
Pradesh, Madhya Pradesh, Maharashtra, Punjab, Sikkim and Telangana.
The
scheme was launched in April 2021 to provide resources to the state
governments in the wake of the second wave of the Covid-19 pandemic.
It
aims to provide a special assistance to the state governments in the
form of 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, while the third is meant to provide incentives
to those states which go for disinvestment of state public sector
enterprises (SPSEs) and recycling of assets.
A similar scheme
entitled 'Special Assistance to States for Capital Expenditure for
2020-21' was also launched by the Finance Ministry 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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