Capital Investment 2023-24: ‘Special Assistance to States for Capital Investment 2023-24’ scheme, with an allocation of Rs. 56,415 crore, aims to accelerate capital spending in 16 States across diverse sectors.
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Introduction
16 States have received permission from the Department of Expenditure, Ministry of Finance, Government of India, for capital investment projects totaling Rs. 56,415 crore in the current fiscal year. The “Special Assistance to States for Capital Investment 2023–24” plan, which aims to give timely impetus to capital investment by States, includes this sizeable commitment. The monies have been granted to assist a number of initiatives in the fields of power, roads, bridges, trains, irrigation, education, and health.
About the Scheme
In the Union Budget for 2023–2024, a programme called “Special Assistance to States for Capital Investment 2023–2024” was unveiled. Its goal is to increase capital spending by giving State Governments additional help. A 50-year interest-free loan is provided to States under this programme, with a total budget of Rs. 1.3 lakh crore for the fiscal year 2023–24. Eight sections make up the plan, with Part I receiving the biggest amount of Rs. 1 lakh crore. According to the decision of the 15th Finance Commission, the allocation of money to the States is based on their proportion of central taxes and charges.
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Key Points about the Scheme
- Capital Investment Approval
- Sectoral Focus
- Parts of the Scheme
- Parts of the Scheme
- Parts of the Scheme
