States seek improvements in 50-year interest-free loan scheme
6 months ago

States seek improvements in 50-year interest-free loan scheme

The Hindu  

States have urged the Centre to make some improvements in the 50-year interest free loan scheme for pursuing capital investment projects, under which the Union government has proposed to give them ₹1.3 lakh crore this year, the same amount as 2023-24. Ministers from States made suggestions related to the ‘Scheme for Special Assistance to States for Capital Investment’, first launched in 2020-21, during pre-Budget consultations chaired by Union Finance Minister Nirmala Sitharaman on June 22. Ms. Sitharaman also heard out several suggestions from State Ministers regarding the Union Budget 2024-25 likely to be presented next month, along with requests specific to their regions, and assured them that their ideas and inputs will get “due consideration by the Union Government during the preparation of Union Budget 2024-25”. “In her remarks, the Union Finance Minister underlined Union Government’s support to States through timely tax devolution, Finance Commission grants, and arrears of GST Compensation being provided for providing stimulus to growth,” the Finance Ministry said in a statement.

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History of this topic

Centre releases ₹50,571 cr to states as capex loans during Apr-Nov: MoS finance
3 weeks ago

Centre releases ₹50,571 cr to states as capex loans during Apr-Nov: MoS finance

Live Mint  

The Union government has released ₹50,571.42 crore to states as part of its ‘special assistance for capital investment’ scheme to be used for ramping up capital expenditure during the first eight months of the ongoing fiscal, according to the latest data from the finance ministry. Responding to a question from Member of Parliament Dilip Saikia in the Lok Sabha, Pankaj …

Need to address the $4 trillion financing gap, says Sitharaman
4 months ago

Need to address the $4 trillion financing gap, says Sitharaman

Hindustan Times  

New Delhi Growth remains the best antidote to many economic and social challenges, finance minister Nirmala Sitharaman said at the Voice of the Global South Summit on Saturday while underscoring the urgency for concessional finance to developing countries facing a nearly $4 trillion annual financing gap in meeting SDGs. Union Finance Minister Nirmala Sitharaman Highlighting inadequate access to development finance, …

Nearly 85% of capital expenditure loans to states released in FY24: Finance ministry
4 months, 3 weeks ago

Nearly 85% of capital expenditure loans to states released in FY24: Finance ministry

Live Mint  

New Delhi: The Union government released about ₹1.10 trillion of the ₹1.3 trillion allocated to states in 2023-24 as interest-free loans towards developing infrastructure and specific reforms, with Uttar Pradesh, Madhya Pradesh, and Bihar cornering a large portion of the funds. Uttar Pradesh received the most funds, ₹19,215.08 crore, while Madhya Pradesh secured ₹12,636.21 crore, Bihar ₹8,814.80 crore, Rajasthan ₹8,513.42 …

​More for more: On the Union Budget and allocations
4 months, 4 weeks ago

​More for more: On the Union Budget and allocations

The Hindu  

Budgets of the Union or the States, as much as they are revenue and expenditure statements for the upcoming fiscal year, are also an exercise in political economy, and the recently tabled Union Budget for 2024-25 is no different. Aside from the “nine priorities”, beginning with provisions for the farm sector and attempts to boost employment, Union Finance Minister Nirmala …

The budget echoes the Developed India vision
5 months ago

The budget echoes the Developed India vision

Hindustan Times  

Finance minister Nirmala Sitharaman has meticulously assessed India’s economic vitality. New Delhi, India - July 23, 2024: Union Finance Minister Nirmala Sitharaman during Post Budget Press Conference at National Media Centre, in New Delhi, India, on Tuesday, July 23, 2024. Budget 2024 unveiled a comprehensive strategy built on nine foundational pillars — agriculture, employment, inclusive development, manufacturing and services, urban …

Budget 2024 is growth-oriented, welfare-centric, people-friendly: Annamalai
5 months ago

Budget 2024 is growth-oriented, welfare-centric, people-friendly: Annamalai

The Hindu  

The Union Budget 2024 is growth-oriented, welfare-centric and people-friendly. It strengthens the road map towards a Viksit Bharat by 2047, said BJP Tamil Nadu president K. Annamalai on Tuesday, July 23, 2024. In a social media post on X, Mr. Annamalai said Budgetary announcements, including the Transit Oriented Development Plans in 14 large cities with a population above 30 lakh, …

‘Express Gratitude': TDP Thanks Centre After Andhra Pradesh Gets Rs 15,000 Crore Bonanza In Budget
5 months ago

‘Express Gratitude': TDP Thanks Centre After Andhra Pradesh Gets Rs 15,000 Crore Bonanza In Budget

News 18  

Andhra Pradesh Minister and TDP leader Nara Lokesh on Tuesday welcomed the Central government’s budgetary proposals of Rs 15,000 crore and thanked the Centre for the developmental move. “Thanks to the Central government which announced that it will provide full support for the completion of the projects of Amaravati, the capital of Andhra Pradesh, and Polavaram project, the lifeline of …

Budget 2024: Nirmala Sitharaman announces financial aid for student loans up to ₹10 lakh
5 months ago

Budget 2024: Nirmala Sitharaman announces financial aid for student loans up to ₹10 lakh

Hindustan Times  

Union finance minister Nirmala Sitharaman announced that the Narendra Modi government will offer financial support for loans up to ₹10 lakh for higher education in domestic institutions. Union Budget 2024: People watch Union Budget being presented by finance minister Nirmala Sitharaman in the Parliament on television screen at TV showroom, at Dadar, in Mumbai. Follow- Budget 2024 Live Updates "For …

Budget: FM announces ₹15,000 cr for development of Andhra Pradesh’s new capital
5 months ago

Budget: FM announces ₹15,000 cr for development of Andhra Pradesh’s new capital

Hindustan Times  

Hyderabad: Union finance minister Nirmala Sitaraman on Tuesday presented her seventh Union Budget, announcing Rs.15,000 cr for Andhra Pradesh’s new capital Amaravati. Finance minister Nirmala Sitharaman with Union Budget portfolio The FM said that the government will ensure all efforts to fulfil the commitments in the Andhra Pradesh Reorganisation Act. Describing it as a lifeline of Andhra Pradesh, Sitharaman said …

Union Budget 2024-25: Nirmala Sitharaman announces e-vouchers for students; education loans up to ₹10 lakh
5 months ago

Union Budget 2024-25: Nirmala Sitharaman announces e-vouchers for students; education loans up to ₹10 lakh

The Hindu  

As part of the new loan scheme announced by Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2024-25, e-vouchers will be given to one lakh students every year to secure loans up to ₹10 lakh to pursue higher education in domestic institutions. “This initiative will undoubtedly empower many aspiring students to pursue their academic goals without the burden …

Budget 2024: BIG announcement for Andhra Pradesh, Govt proposes Rs 15,000 crore to develop state capital
5 months ago

Budget 2024: BIG announcement for Andhra Pradesh, Govt proposes Rs 15,000 crore to develop state capital

India TV News  

Union Finance Minister Nirmala Sitharaman on Tuesday proposed that the government will facilitate special financial support for the development of the capital city in Andhra Pradesh. Presenting the Budget for 2024-25 in the Lok Sabha, she further said the NDA government at the Centre is fully committed to financing and early completion of Polavaram Irrigation project, which is considered as …

Union Budget 2024 India: Sitharaman Announces 5 Schemes Focusing On 4.1 Crore Youth Over Next 5 Years
5 months ago

Union Budget 2024 India: Sitharaman Announces 5 Schemes Focusing On 4.1 Crore Youth Over Next 5 Years

ABP News  

Union Budget 2024 India: Finance Minister Nirmala Sitharaman in her announcement during the Budget speech revealed that the Modi 3.0 government will launch five major schemes focusing on 4.1 crore youth over the next five years, with a substantial central outlay of Rs 2 lakh crore. The Finance Minister emphasized that 20 lakh youth will receive training and skill development …

Nitish Kumar reacts to Union Budget 2024 amid 'special status' demands for Bihar | Watch
5 months ago

Nitish Kumar reacts to Union Budget 2024 amid 'special status' demands for Bihar | Watch

India TV News  

Union Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget for FY 24-25 with some major announcements for states like Andhra Pradesh and Bihar. Notably, Nirmala Sitharaman announced Rs 26,000 crore in monetary aid for the development of road infrastructure in Bihar. During her budget speech, Sitharaman said, "On the Amritsar-Kolkata industrial corridor, we will support the development of …

States raise issue of borrowing limit in pre-budget meeting
6 months ago

States raise issue of borrowing limit in pre-budget meeting

New Indian Express  

NEW DELHI: Opposition-ruled states such as Tamil Nadu and Kerala have again raised the issue of borrowing limits imposed by the Centre depriving them of necessary funds leading to liquidity crunch. In a pre-budget consultation with the Centre here, Kerala finance minister K N Balgopalan requested that a special package of at least Rs 24,000 crore be announced in the …

Nirmala Sitharaman hints at bringing in a political funding framework that will be acceptable to all
8 months ago

Nirmala Sitharaman hints at bringing in a political funding framework that will be acceptable to all

Live Mint  

Union Finance Minister Nirmala Sitharaman has hinted at the posibility of bringing back the electoral bonds scheme after proper consultation with stakeholders if voted to power. While speaking to HindustanTimes, she said, “We still have to do a lot of consultation with stakeholders and see what is it that we have to do to make or bring in a framework …

No cuts in Interim Budget allocations: Nirmala
10 months, 2 weeks ago

No cuts in Interim Budget allocations: Nirmala

Deccan Chronicle  

New Delhi: Exuding confidence in India’s economic growth, Union finance minister Nirmala Sitharaman on Wednesday said that all the allocations have not been cut under any head in the interim Budget for 2024-25, rather it has either remained the same or gone up in FY25 Budget in the flagship schemes. Meanwhile, the Lok Sabha also passed the Rs 47.66-lakh-crore interim …

No discrimination in tax sharing with States: FM Nirmala Sitharaman
10 months, 2 weeks ago

No discrimination in tax sharing with States: FM Nirmala Sitharaman

The Hindu  

Union Finance Minister Nirmala Sitharaman on Wednesday sought to dismiss allegations that the Centre was not giving money to the States and termed the Karnataka government’s charges about inadequate tax devolutions and discrimination in sharing Central taxes “patently wrong and mischievous”. Noting that even Tamil Nadu had voiced concerns, the Minister assured the House that the government had followed the …

Uttar Pradesh to benefit most from interim budget, says state’s finance minister Suresh Khanna
10 months, 3 weeks ago

Uttar Pradesh to benefit most from interim budget, says state’s finance minister Suresh Khanna

Hindustan Times  

Uttar Pradesh is likely to get ₹2,18,816.84 crore as its share in central taxes in the financial year 2024-25, the state’s minister for finance Suresh Khanna said here after Union finance minister Nirmala Sitharaman presented the interim budget in Parliament on Thursday. Suresh Khanna said Uttar Pradesh will benefit the most from the interim budget as the state will have …

Rural Housing scheme - Budget 2024: Nirmala Sitharaman highlights progress toward 3 crore rural houses, plans for additional 2 crore in next five years
10 months, 3 weeks ago

Rural Housing scheme - Budget 2024: Nirmala Sitharaman highlights progress toward 3 crore rural houses, plans for additional 2 crore in next five years

The Hindu  

The country is close to achieving the target of 3 crore houses under the rural housing scheme and two crore more will be constructed in the next five years, Union Finance Minister Nirmala Sitharaman said on Thursday, February 1, 2024. Earlier this month, Prime Minister Narendra Modi released the first instalment of ₹540 crore to one lakh beneficiaries of a …

Madhya Pradesh to present state budget after 2024 Lok Sabha elections
11 months, 4 weeks ago

Madhya Pradesh to present state budget after 2024 Lok Sabha elections

Hindustan Times  

Madhya Pradesh government will present the state budget in July 2024 due to model code for the Lok Sabha elections 2024 and till then no new schemes can be announced, said a state finance department notification issued on Saturday. The notification said the vote of account will be brought in February-March to arrange the expenses of the state government for …

Interest-free loans to states may be extended
1 year ago

Interest-free loans to states may be extended

Hindustan Times  

New Delhi The central government may extend its ₹1.30 lakh crore interest-free loan for 50 years to states to boost capital expenditure and expedite policy reforms in the coming Budget with growing demand for the fund as 74% of the total corpus for 2023-24 is already sanctioned in just seven months of the current financial year, two officials aware of …

Centre approves Rs.56,415 crore to 16 States under 2023-24 capital investment scheme: Finance Ministry
1 year, 5 months ago

Centre approves Rs.56,415 crore to 16 States under 2023-24 capital investment scheme: Finance Ministry

India TV News  

In the current fiscal year 2023–2014, the Union Finance Ministry has approved capital investment proposals in 16 states totaling Rs 56,415 crore. The scheme known as "Special Assistance to States for Capital Investment 2023–24" has received approval. The state-by-state allocations are detailed in the following table: The scheme "Special Assistance to States for Capital Investment 2023–24" was announced in the …

Multilateral devt banks need transformative reform: FM Sitharaman
1 year, 8 months ago

Multilateral devt banks need transformative reform: FM Sitharaman

Live Mint  

In a meeting with the G20 expert group on strengthening multilateral development banks, Union finance minister Nirmala Sitharaman called for a “transformative” rather than incremental change in the banks; a “holistic” rather than fragmented approach to reform; and the need for more financing to achieve both developmental and climate goals, without viewing them as mutually exclusive. People familiar with the …

Expect States to tap ₹1.3 lakh crore capex loan window quicker: Nirmala Sitharaman
1 year, 10 months ago

Expect States to tap ₹1.3 lakh crore capex loan window quicker: Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Thursday exuded confidence that States will sign up as early as April to avail the ₹1.3 lakh crore of interest-free loans offered to them in Budget 2023-24 for capital expenditure, much faster than they did in the current financial year. This 50-year interest-free loan window for States constitutes a critical part of the government’s ambitious …

FM Sitharaman renews Centre’s outreach to states, continues 50-yr interest free loan
1 year, 10 months ago

FM Sitharaman renews Centre’s outreach to states, continues 50-yr interest free loan

Hindustan Times  

Renewing the Centre’s outreach to the states ahead of a series of assembly elections and the 2024 Lok Sabha polls, finance minister Nirmala Sitharaman proposed to continue the Union government’s 50-year interest free loan for states by another year. Union finance minister Nirmala Sitharaman at a post-budget press conference in New Delhi on Wednesday The government also announced in the …

Union Budget 2023 Finance Minister Nirmala Sitharaman announces new savings scheme for women
1 year, 10 months ago

Union Budget 2023 Finance Minister Nirmala Sitharaman announces new savings scheme for women

The Hindu  

Union Finance Minister Nirmala Sitharaman on Wednesday announced a one-time small savings scheme for women to commemorate celebrations of 75 years of India’s Independence. “Commemorating Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025,” Ms. Sitharaman said while presenting the Union Budget. The …

Budget 2023 Key Highlights: Are You Under New Tax Regime? Nirmala Sitharaman Has Good News for You
1 year, 10 months ago

Budget 2023 Key Highlights: Are You Under New Tax Regime? Nirmala Sitharaman Has Good News for You

News 18  

Budget 2023 Highlights: Delivering on the expectations of the aam aadmi, Finance Minister Nirmala Sitharaman today announced Income Tax relief for the salaried class with an eye on the mega 2024 elections as well as several state battles as she delivered the Union Budget 2023 speech. She also announced changes in the tax slabs under the new tax regime, which …

Govt Allows to 10 States to Borrow Additional Rs 28,204 Cr for Power Sector Reforms
2 years, 8 months ago

Govt Allows to 10 States to Borrow Additional Rs 28,204 Cr for Power Sector Reforms

News 18  

The finance ministry on Thursday said 10 states were given the permission to borrow an additional Rs 28,204 crore in FY22 for undertaking power sector reforms. “Department of Expenditure, Ministry of Finance, has granted additional borrowing permission of Rs 28,204 crore to 10 states for undertaking the stipulated reforms in power sector in 2021-22,” it said in a statement. In …

Union Budget 2022-23: Covid-hit microfinance industry seeks higher credit guarantee scheme
2 years, 11 months ago

Union Budget 2022-23: Covid-hit microfinance industry seeks higher credit guarantee scheme

India Today  

The Covid-19 hit microfinance sector has urged Finance Minister Nirmala Sitharaman to increase the limit of credit guarantee scheme in the upcoming budget for 2022-23. In the budget representation to the ministry, the self regulatory body of MFIs stated the sector has been facing a few challenges in terms of higher credit costs and access to low-cost long term funds. …

Wish list ready, Harish to attend Centre’s pre-budget meet today
2 years, 11 months ago

Wish list ready, Harish to attend Centre’s pre-budget meet today

Deccan Chronicle  

Hyderabad: The Telangana state government has readied a long ‘wish list’ for Union Budget 2022-23, set to be presented in Parliament on February 1. Telangana finance minister T. Harish Rao will participate in this meeting and submit the state government's 'wish list' to Nirmala Sitharaman. Official sources said the major demands of the state government included increase in the Fiscal …

Committed to cover all farmers in State under loan waiver scheme: Maharashtra Government
2 years, 11 months ago

Committed to cover all farmers in State under loan waiver scheme: Maharashtra Government

The Hindu  

The Maharashtra Government on Friday told the Legislative Assembly that it was committed to cover all the farmers in the State under its loan waiver scheme, saying its implementation took a backseat due to the COVID 19 pandemic. Replying to a discussion on the issue during the Question Hour, Deputy Chief Minister Ajit Pawar said that ₹31.81 lakh farmers are …

GoI announces interest-free ₹15000 crore loan to states for capital projects
3 years, 7 months ago

GoI announces interest-free ₹15000 crore loan to states for capital projects

Op India  

The Union Finance Ministry has decided to provide an additional amount of upto Rs 15,000 crore to states as interest-free 50-year loans for spending on capital projects. Earlier in October last year, finance minister Nirmala Sitharaman had announced Rs 12,000 crore interest-free 50-year loan to states for capital projects in a bid to boost the economy. The finance ministry has …

Budget 2021: A push to privatise India
3 years, 10 months ago

Budget 2021: A push to privatise India

India Today  

Budget 2021-22 makes a concerted push toward getting the government out of commercial sectors, a move in line with the Narendra Modi government’s stated agenda of minimum government. On this count, finance minister Nirmala Sitharaman has budgeted for revenues of Rs 1.75 lakh crore from stake sales of public sector companies, including two public sector banks and one insurance company. …

Govt. agrees to maintain States’ share in the divisible pool of taxes
3 years, 10 months ago

Govt. agrees to maintain States’ share in the divisible pool of taxes

The Hindu  

The government has accepted the Fifteenth Finance Commission’s recommendation to maintain the States’ share in the divisible pool of taxes to 41% for the five-year period starting 2021-22, and given an ‘in-principle’ nod to the panel’s suggestion to set up a separate non-lapsable fund for defence and internal security modernisation. The Commission’s report, which was submitted to the President in …

Union Budget 2021: Sitharaman defends privatisation of PSBs in interview with News18, says India needs more efficient banks
3 years, 10 months ago

Union Budget 2021: Sitharaman defends privatisation of PSBs in interview with News18, says India needs more efficient banks

Firstpost  

In an exclusive interview to CNN-News18’s Rahul Joshi after unveiling the Union Budget 2021 on Monday, Union minister Nirmala Sitharaman weighed in on the key takeaways from the budiget and defended the Centre’s push for disinvestment, including two public sector banks. Speaking to Network18 Group Editor Rahul Joshi, Sitharaman said that the Centre is looking at setting up a holding …

Aaj Ki Baat Exclusive | Agri cess, MSP, fiscal deficit: FM Sitharaman allays fears arising out of Budget 2021
3 years, 10 months ago

Aaj Ki Baat Exclusive | Agri cess, MSP, fiscal deficit: FM Sitharaman allays fears arising out of Budget 2021

India TV News  

Union Finance Minister Nirmala Sitharaman on Monday presented the Union Budget 2021, her third as Finance Minister on Monday. Bringing the budget in the most challenging times during the pandemic, Finance Minister Nirmala Sitharaman in an exclusive conversation in Aaj Ki Baat with Rajat Sharma, Editor-In-Chief and Chairman, India TV, discussed the key highlights of the Union Budget 2021. Aaj …

A look at the winners and losers of Nirmala Sitharaman's Budget 2021
3 years, 10 months ago

A look at the winners and losers of Nirmala Sitharaman's Budget 2021

India Today  

Amid the sweeping economic distress triggered by the Covid-19 pandemic, Finance Minister Nirmala Sitharaman on Monday presented the Union Budget 2021, giving major emphasis to healthcare and infra sectors while leaving direct taxes unchanged. Here is a look at the gainers and losers from Budget 2021: WINNERS Healthcare Finance Minister Nirmala Sitharaman put health and well being as one of …

Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy
3 years, 11 months ago

Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy

Firstpost  

The pandemic has thrown many traditional fiscal management measures to the wind and challenged the regulators to the hilt. As India looks to recover from the devastating COVID-19 blow, the financial sector, the backbone of the economy that holds it all together, should get special attention. Here are some of the key suggestions which Finance Minister Nirmala Sitharaman could consider …

Finance Ministry Approves Rs 9,879 Crore Capital Expenditure Proposal of 27 States
4 years ago

Finance Ministry Approves Rs 9,879 Crore Capital Expenditure Proposal of 27 States

News 18  

The Finance Ministry on Saturday said it has approved Rs 9,879.61 crore worth capital expenditure proposals of 27 states. In a statement, the ministry said all states, except Tamil Nadu, have availed benefits of the newly announced scheme for ‘Special Assistance to States for Capital Expenditure’, which was announced on October 12 as part of AatmaNirbhar Bharat package. “So far …

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy
4 years, 1 month ago

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy

The Hindu  

A day after announcing a scheme to boost manufacturing sector, Finance Minister Nirmala Sitharaman is meeting the press to announce more stimulus. The government on Wednesday approved a Production-Linked Incentive scheme for ten key sectors, including telecom, automobiles and pharmaceuticals, taking the total outlay for such incentives to nearly Rs 2 lakh crore over a five-year period. 3000 crore for …

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme
4 years, 1 month ago

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme

India TV News  

Union Finance Minister Nirmala Sitharaman on Thursday rolled out Atmanirbhar Bharat 3.0 stimulus package to boost economy. will make ₹ 6,000 crore equity investment in debt platform of National Investment and Infrastructure Fund, which will help NIIF raise ₹ 1.1 lakh crore by 2025 for financing infrastructure projects 2:08 pm: Differential between circle rate and agreement value in real estate …

Interest-free 50-year loans to states for capital expenditure for ₹12,000 crore: Nirmala Sitharaman
4 years, 2 months ago

Interest-free 50-year loans to states for capital expenditure for ₹12,000 crore: Nirmala Sitharaman

Live Mint  

Finance Minister Nirmala Sitharaman today announced steps to stimulate consumer demand including advance payment of a part of the wages of central government employees for spending during the festival season, part of efforts to bolster the economy hit by the coronavirus pandemic. Here's are highlights of Finance Minister Nirmala Sitharaman's press conference: -We estimate that the measures announced today, for …

Finance Minister announces govt schemes to boost consumer demand
4 years, 2 months ago

Finance Minister announces govt schemes to boost consumer demand

Op India  

Finance Minister Nirmala Sitharaman has announced a slew of measures to stimulate the slowing economy in the wake of coronavirus-induced lockdown. 2nd part of the Modi Govt's plan to boost consumer demand is a one-time restoration of the festival advance for central govt employees through the Special Festival Advance Scheme. LTC cash voucher scheme announced for government employees To spur …

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