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telegraphindia.com 14 Sep, 2021 11:30 am

Finance ministry gives nod to 11 states to borrow additional Rs 15,721 crore

Finance ministry gives nod to 11 states to borrow additional Rs 15,721 crore
States rewarded for achieving target for the capital expenditure in the 1st Quarter of 2021

Finance ministry gives nod to 11 states to borrow additional Rs 15,721 crore States rewarded for achieving target for the capital expenditure in the 1st Quarter of 2021 The next review of Capital expenditure of States will be undertaken by the Department of Expenditure in December, 2021.21, 02:03 PM The Finance Ministry has permitted 11 states to borrow an additional amount of Rs 15,721 crore after these states achieved the capital expenditure target set for the June quarter.have achieved the target set by the Ministry of Finance for the capital expenditure in the 1st Quarter of 2021-22.Additional financial resources thus made available will help the States in pushing their capital expenditure further.

The Ministry said capital expenditure has a high multiplier effect, enhances the future productive capacity of the economy, and results in a higher rate of economic growth.50 per cent of GSDP was earmarked for incremental capital expenditure to be incurred by the States during 2021-22.

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