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Finance Ministry has approves Rs ______ crore for 16 states under capex scheme.
A)
Rs 56,415 crore
B)
Rs 58,415 crore
C)
Rs 60,415 crore
D)
Rs 63,415 crore

Correct Answer :   Rs 56,415 crore


The Finance Ministry Approved investments worth Rs 56,415 Crore in 16 states as part of the 'Special Assistance to States for Capital Investment 2023-24’ scheme, it said in a release on Monday (26th June 2023).

Aiming at providing a timely boost to capital spending by states, the Department of Expenditure has approved investment projects in several sectors including health, education, irrigation, power, roads and railways among others. The said department has also included the state share of two projects, namely Jal Jeevan Mission and Pradhan Mantri Gram sadak Yojana under this scheme.

"Under the scheme, special assistance is being provided to the State Governments in the form of 50-year interest free loan up to an overall sum of Rs. 1.3 lakh crore during the financial year 2023-24," the release read.

The ministry has divided the scheme into eight parts.

For the first part,Rs 1 lakh crore has been allocated which is further distributed among states in proportion to their share of central taxes and duties.

Part-II sees allocation of Rs 3,000 crore incentives for scrapping of vehicles, including state government vehicles and ambulances. The funds will also be used to waive liabilities on old vehicles, provide tax concessions to individuals for scrapping of old vehicles and set up of automated vehicle testing facilities.

Parts III & IV focus on incentives to states for reforms in urban planning and finance. For the same, Rs 15,000 crore and Rs 5,000 have been set aside respectively..

Source : Economic Times

Published On : June 27, 2023
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