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In a written reply to Lok Sabha, Minister of State for Finance Pankaj Chaudhary said the scheme is aimed at boosting capital expenditure by states.
Under the scheme, special assistance is being provided to the state governments in the form of a 50-year interest-free loan up to an overall sum of Rs 1.3 lakh crore during the financial year 2023-24.
Between April 1, 2023, and February 1, 2024, Rs 66,745.21 crore has been released to 28 states under the Scheme for ‘Special Assistance to States for Investment’, Chaudhary said.
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Capital investment projects in diverse sectors have been approved, including health, education, irrigation, water supply, power, roads, bridges and railways.
Funds for meeting the state share of Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana have also been provided to the states under this scheme to enhance the pace of projects in these sectors.