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27 states to get capex loans worth Rs 9,880 crore under Atmanirbhar Bharat

27 states to get capex loans worth Rs 9,880 crore under Atmanirbhar Bharat

The finance ministry approved capital projects worth Rs 9,880 crore for 27 states under the scheme for special assistance to states for capital expenditure (capex) under the Atmanirbhar Bharat Package as of December 8.

All states barring Tamil Nadu have availed of the scheme under which the Centre released Rs 4,940 crore for projects ranging from the health to the education sector, the ministry said in a statement, on Saturday.

Uttar Pradesh received the highest amount of Rs 750 crore from the first installment under the scheme, followed by Rs 421 crore to Bihar and Madhya Pradesh’s Rs 330 crore, according to the statement.

In October, finance minister Nirmala Sitharaman had announced the second tranche of the government’s stimulus package which involved Rs 12,000 crore worth of interest-free 50-year loans to the states for spending on capital projects.

“The scheme is aimed at boosting capital expenditure by the State Governments who are facing a difficult financial environment this year due to the shortfall in tax revenue arising from the COVID 19 pandemic,” the statement said.

State-wise allocation of loans under the scheme have been made following the 15th Finance Commission’s (FC) tax devolution formula as per its interim report for FY21 submitted in November last year.

Further, the government released grants-in aid to the states amounting to Rs 1.18 lakh crore as of December 3, based on the FC’s recommended Rs 1.99 lakh crore for FY21, in its interim report, the finance ministry said in an update via Twitter on Saturday.

The Centre also released Rs 2,200 crore as the first installment of grants-in aid for improving the air quality in urban agglomerations, as part of the FC’s recommendations, the ministry said.

In addition to this, the government also gave its approval for 135 housing projects amounting to investments worth Rs 13,191 crore as of December 1, under the Special Window for Affordable and Mid Income Housing scheme, it said.

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