close
Breaking news

A new line of argument has already come to dominate the public sphere: it’...read more The government has gone one step further to detect community spread of the coro...read more The government has issued an order to abolish the six allowances, including the...read more Aarogya Setu application launched by NIC is aimed to track COVID-19 affected pe...read more SEOUL| South Korea’s unemployment rate was unchanged in April as the coronavi...read more Amid the outbreak of Corona pandemic in the country, Indian government has been...read more Prime Minister Narendra Modi in his address to the nation on Tuesday indicated ...read more Corona infection in the country is taking a macabre form. So far, more than 74 ...read more Congress General Secretary Priyanka Gandhi Vadra has written a letter to UP Chi...read more On Tuesday, Prime Minister Narendra Modi announced a package of Rs 20 lakh cror...read more

Interest Free Loan of Rs. 21,000 Cr to States : Sitharaman

Interest free loan of 12000 crore to states

To promote economic activities, the central government will provide interest-free loan of Rs 12,000 crore to the states. The loan will be of 50 years duration and will be given to spend on capital projects. Finance Minister Nirmala Sitharaman announced the scheme on Monday.

She said that out of the amount of Rs 12,000 crore, Rs 1,600 crore will be given to the northeastern states and Rs 900 crore to Uttarakhand and Himachal Pradesh. He informed that an amount of Rs 7,500 crore will be given to the remaining states. At the same time, Rs 2,000 crore will be given to those states which have completed the reforms mentioned earlier.

Giving information about the scheme, Sitharaman said that the entire amount can be spent on new or existing capital projects. Sitharaman said that states can also settle bills for contractors and suppliers from this, but the entire amount will have to be paid before 31 March 2021.

He said that this loan will be different from the borrowing limit of the states. After 50 years, the states will have to pay it at one go. The finance minister also announced an additional capital expenditure of Rs 25,000 crore by the central government. He said that this additional amount would be spent on roads, defense infrastructure, water supply and urban development. This will be in addition to the fixed budget of Rs 4.13 lakh crore.

No Comments

Leave a reply

Post your comment
Enter your name
Your e-mail address

Story Page

Download Our Mobile App