Submitted by admin on February 7th, 2024
The Ministry of Finance has released Rs 66, 745 crore as loans for 28 states under their Scheme for ‘Special Assistance to States for Capital Investment’.
Pankaj Chaudhary, the Minister of State for Finance, has said in a written reply to Lok Sabha that the scheme is designed to boost states’ capital expenditure.
Under the scheme, the state governments will receive special assistance in the form of a 50-yearinteret-free loan up to the amount of Rs 1.3 lakh core during the financial year 2023-24.
Under the Scheme for ‘Special Assistance to States for Investment’, an overall sum of Rs 66, 745,21crore has already been released to 28 states from April 1, 2023 to February 1, 2024, Chaudhary has informed.
Under the same scheme, Rs 81, 195.35 crore was released during 2022-23.
Capital investment projects have been approved in diverse sectors including education, health, water supply, irrigation, roads, power supply, railways and bridges.
Under the same scheme, funds to helps states meet their share of Pradhan Mantri Gram Sadak Yojana and Jal Jeevan Mission have also been released to accelerate the pace of projects in the afore-mentioned sectors.
Int Rates : 10.5% - 22%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure - 7 Years
Lowest EMI : ₹ 1,686
Interest Rate 13.99% - 24.99%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure – 5 Years
Lowest EMI : ₹ 2,326
Interest Rate 9% - 13%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure – 20 Years
Lowest EMI : ₹ 1,014
Interest Rate 8.40% - 12%
Loan Amount : ₹ 1,00,000.00
Maximum Tenure – 35 Years
Lowest EMI – ₹ 739
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