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Business Economy

Madhya Pradesh gets additional 660 cr for Capex for citizen-centric reforms

Madhya Pradesh gets additional 660 cr for  Capex for citizen-centric reforms

New Delhi, Jan 24 (UNI) The finance ministry has allocated an additional Rs 660 crore to Madhya Pradesh for capital expenditure for citizen-centric reforms.

The ministry on Sunday said the Department of Expenditure has approved the amount to the state for undertaking the One Nation, One Ration Card Reforms, Ease of Doing Business Reforms, and Urban Local Bodies Reforms.

The State has completed a part of the fourth reform – the Power Sector reform, and has thus become the first State to get additional funds for capital projects for successfully carrying out reforms.

A list of capital projects with estimated cost of Rs 660 crore was approved by the Department of Expenditure.

Fifty per cent of the approved amount -- Rs 330 crore -- has also been released to the State as first instalment for the approved projects.

This latest amount of Rs 660 crore is in addition to an amount of Rs 660 crore approved earlier for capital projects under Part-II of the scheme.

The scheme of "Special Assistance to States for Capital Expenditure" was announced by the Finance Minister Nirmala Sitharaman in October last year as part of Aatma Nirbhar Bharat package.

The Scheme is aimed at boosting capital expenditure by the State governments who are facing difficult financial environment this year due to a shortfall in tax revenue arising from the COVID 19 pandemic.

"Capital Expenditure has a higher multiplier effect, enhancing the future productive capacity of the economy, and results in a higher rate of economy growth.

Therefore, despite the adverse financial position of the Central Government, it was decided to extend a special assistance to the State Governments in respect of capital expenditure, in financial year 2020-21," the ministry said.

The capital expenditure projects have been approved in diverse sectors of economy like, Health, Rural Development, Water Supply, Irrigation, Power, Transport, Education, Urban Development.

The finance ministry has so far approved capital expenditure proposals of Rs.10,657 crore of 27 States.


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