THE CENTRE HAS decided to subject sanction and release of the *1.3-trillion capex loan to states in FY24 to much more stringent conditions than for the corresponding facility in the current financial year.
According to official sources, there are two objectives behind the move: ensuring these 50-year interest-free loan actually result in incremental capex growth in all states, rather than being used by them instead of the their own funds for productive spending and encouraging reforms in assorted areas by using these funds as a lure.
Athird of the 1.3 trillion capex loans to state governments in FY24 announced in the recent Budget will be tied to various conditions, as against a fifth of the ₹1 trillion loan (revised estimate ₹76,000 crore) allocated in the current year, the sources said.
Also, a portion of the unconditional loans to states (two-thirds of the budget estimate for FY24), will be made on the fiduciary condition that their capex exceeds the previous year's achievement by a prescribed margin under the scheme.
The incremental capex target for states is being worked out.
Bu hikaye Financial Express Mumbai dergisinin February 06, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin February 06, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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