Centre sanctions Rs 600 bn long-term capex funds to states
ECONOMY & POLICY

Centre sanctions Rs 600 bn long-term capex funds to states

The central government has sanctioned Rs 600 billion of long-term capital expenditure funds to states this fiscal, making a strong beginning to the scheme announced earlier this year to build roads, ports, bridges, airports and highways across the country.

The scheme envisions providing Rs 1 trillion in interest-free loans to states over and above the normal borrowing limits, so that local governments have more financial resources to invest in productive assets, which will create jobs.

The amount sanctioned thus far is a fourfold increase from the allocation made in the scheme's first year—Rs 150 billion in FY22—indicating that it is well received by states. With this in mind, the Centre has increased capital expenditure allocation in this year's budget by 35% to Rs 7.5 trillion. The Centre's additional allocation includes a Rs 1 trillion capex fund.

Also Read
Santa Cruz-Chembur Link Road Extension glitch resolved
NHAI seeks bids for Varanasi-Ranchi-Kolkata highway

The central government has sanctioned Rs 600 billion of long-term capital expenditure funds to states this fiscal, making a strong beginning to the scheme announced earlier this year to build roads, ports, bridges, airports and highways across the country. The scheme envisions providing Rs 1 trillion in interest-free loans to states over and above the normal borrowing limits, so that local governments have more financial resources to invest in productive assets, which will create jobs. The amount sanctioned thus far is a fourfold increase from the allocation made in the scheme's first year—Rs 150 billion in FY22—indicating that it is well received by states. With this in mind, the Centre has increased capital expenditure allocation in this year's budget by 35% to Rs 7.5 trillion. The Centre's additional allocation includes a Rs 1 trillion capex fund. Also Read Santa Cruz-Chembur Link Road Extension glitch resolved NHAI seeks bids for Varanasi-Ranchi-Kolkata highway

Related Stories

Gold Stories

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 86574 75330

Join us Telegram

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back