FinMin allocates Rs 660 crore additional funds to MP for capex

Economy


New Delhi: The finance ministry on Sunday said it has allocated an additional Rs 660 crore to Madhya Pradesh for capital expenditure to undertake citizen-centric reforms. “A list of capital projects with an estimated cost of Rs 660 crore was approved by the Department of Expenditure. Fifty per cent of the approved amount (i.e. Rs 330 crore) has also been released to the state (Madhya Pradesh) as first instalment for the approved projects,” it said in a statement.

The ministry has allocated this additional funds to the state for capital expenditure for undertaking the ‘One Nation, One Ration Card’ reforms, Ease of Doing Business reforms, and urban local bodies reforms. The state has also completed part of the fourth reform – the power sector reforms.

The ‘Special Assistance to States for capital expenditure’ scheme was announced by the Centre in October last year as part of Aatmanirbhar Bharat package. The scheme is aimed at boosting capital expenditure of the state governments that are facing difficult financial environment due to a shortfall in tax revenue arising from the COVID 19 pandemic.

Loading...

“So far, capital expenditure proposals of Rs 10,657 crore of 27 states have been approved by the Ministry of Finance. An amount of Rs 5,328 crore has already been released to the states as the first instalment under the scheme.

“State-wise allocation, approval granted and funds released is attached. Tamil Nadu has not availed the benefit of the scheme,” it added.



Source link

Articles You May Like

India likely to start full operations at Iran’s Chabahar port by May end
Labour codes face delay as states fail to frame rules
Activist investor Jeff Ubben to join Exxon Mobil’s board
Saks Fifth Avenue owner spins e-commerce site into separate business
Kohl’s (KSS) earnings Q4 2020 beat

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading...