YSRCP govt. diverted funds meant for capital infrastructure development, says Finance Minister Payyavula Keshav
1 day, 19 hours ago

YSRCP govt. diverted funds meant for capital infrastructure development, says Finance Minister Payyavula Keshav

The Hindu  

Due to diversion of funds meant for capital infrastructure development by the previous YSRCP government during the financial year 2023-24, the Central government has cut the borrowing capacity of State government by ₹7,600 crore, according to Finance Minister Payyavula Keshav. After submitting the rectified accounts in the current financial year 2024-25, the Central government approved ₹2,000 crore, he added. The Minister said the State government would submit further clarifications related to ₹1,600 crore, as requested by the Central government. He said the YSRCP government had spent only ₹4,000 crore under SASCI for developing capital infrastructure in the previous financial year, while the NDA government spent more than ₹7,000 crore in the last nine months.

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History of this topic

Karnataka state budget has let down farmers, SC/STs: BJP MLC
1 week, 4 days ago

Karnataka state budget has let down farmers, SC/STs: BJP MLC

New Indian Express  

CHIKKAMAGALURU : BJP chief whip in the Legislative Council N Ravi Kumar said the budget 2025-26 presented by Chief Minister Siddaramaiah has ignored farmers by not sanctioning any grants for them, and tremed it a Rs 4,09,549-lakh loan budget. “SC/ST communities have been neglected, and a CM, who claims to be a patron of Dalits, had earlier enacted a law …

Chennai Corporation proposes ₹486 crore road relaying plan but issues persist
2 weeks, 1 day ago

Chennai Corporation proposes ₹486 crore road relaying plan but issues persist

The Hindu  

The Greater Chennai Corporation has proposed relaying 3,505 roads, spanning 570 km under its ₹486 crore plan for the upcoming financial year 2025-26. As per documents accessed by The Hindu, ₹150 crore is expected to be allocated under Tamil Nadu Urban Road Infrastructure Fund, ₹60 crore under Nagarpura Salai Membattu Thittam for the road work. Progress so far The GCC …

Andhra Pradesh Budget 2025-26 : State witnessed “dropout” on all fronts during YSRCP rule, says Payyavula Keshav
2 weeks, 6 days ago

Andhra Pradesh Budget 2025-26 : State witnessed “dropout” on all fronts during YSRCP rule, says Payyavula Keshav

The Hindu  

Andhra Pradesh State Finance Minister Payyavula Keshav has made bitter remarks that Andhra Pradesh witnessed “dropouts” in all sectors during the State’s YSR Congress Party rule during 2019-24. Presenting the annual Budget for the financial year 2025-26 in the Andhra Pradesh Assembly on Friday, the Minister said, “We have heard about dropouts from schools. Employment and jobs also dropped.” Andhra …

Centre allocated ₹1.08 lakh crore to Telangana in this year’s budget, says Union Minister Bandi Sanjay Kumar
1 month ago

Centre allocated ₹1.08 lakh crore to Telangana in this year’s budget, says Union Minister Bandi Sanjay Kumar

The Hindu  

Union Minister of State for Home Bandi Sanjay Kumar on Thursday claimed that Telangana has been allocated ₹1.08 lakh crore in the form of taxes and schemes in this year’s Union Budget and accused the Congress government of spreading “false propaganda” against the Centre to divert the attention of the people from its own failure to implement the six promised …

₹1,570 crore owed to Bihar under MGNREGS, Centre tells Rajya Sabha
1 month, 1 week ago

₹1,570 crore owed to Bihar under MGNREGS, Centre tells Rajya Sabha

The Hindu  

On a day when National Democratic Alliance MPs from Bihar met Prime Minister Narendra Modi in Parliament to express gratitude for the recent budget announcements for their State, the Union Ministry of Rural Development informed the Rajya Sabha that the Centre owed ₹1,570 crore funds to the State under the Mahatma Gandhi National Rural Employment Guarantee Scheme. Replying to a …

Budget 2025: What govt doubling down on infrastructure spending can achieve
1 month, 2 weeks ago

Budget 2025: What govt doubling down on infrastructure spending can achieve

India Today  

With an eye on the ripple effect it has on employment generation and attracting private capital, the Narendra Modi government has doubled down on massive public spending through infrastructure in Budget 2025, with large connectivity projects and urban redevelopment as the main focus. Amplifying capital spend by states, the Centre will also set up an Urban Challenge Fund of Rs …

Budget 2025: Govt allocates ₹1.5 lakh crore for interest-free loans to boost state infrastructure
1 month, 2 weeks ago

Budget 2025: Govt allocates ₹1.5 lakh crore for interest-free loans to boost state infrastructure

Live Mint  

In the Union Budget 2025, Finance Minister Nirmala Sitharaman has announced a major allocation of ₹1.5 lakh crore for 50 years interest free loans to the state governments for boosting capital expenditure and development of infrastructure across the country. With this, The central government aims to empower states to make substantial capital expenditures without the immediate cost of interest payments …

NDA Government pulling Andhra Pradesh back from the brink, says I&PR Minister Parthasarthy
1 month, 2 weeks ago

NDA Government pulling Andhra Pradesh back from the brink, says I&PR Minister Parthasarthy

The Hindu  

The YSR Congress Party government had ruined Andhra Pradesh during its five-year term, and the TDP-led NDA dispensation was facing tremendous hardship in salvaging the precarious situation, Information & Public Relations Minister Kolusu Parthasarathy said on Wednesday. Nevertheless, the NDA Government managed to mobilise investments amounting to ₹6.33 lakh crore, for which MoUs were signed in the last seven months. …

Centre Has Released Rs 10.36 Lakh Crore Till Dec in FY25
3 months ago

Centre Has Released Rs 10.36 Lakh Crore Till Dec in FY25

Deccan Chronicle  

Chennai: The Centre has released a total of Rs 10.36 lakh crore to the states till December. In FY24, the total funds released by the Centre was Rs 13.88 lakh crore of which Rs 11.29 lakh crore was the states’ share in the tax revenues. Finance Commission transfers, which includes Revenue Deficit Grants, accounted for Rs 1.49 lakh crore and …

Centre releases ₹50,571 cr to states as capex loans during Apr-Nov: MoS finance
3 months, 2 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 …

YSRC govt caused debts of Rs 9.74 lakh crore to AP, says minister
4 months ago

YSRC govt caused debts of Rs 9.74 lakh crore to AP, says minister

Deccan Chronicle  

Vijayawada: The YSRC government “resorted to large-scale borrowings totalling over Rs 9.74 lakh crore and spent Rs 600 crore without getting approval from the state legislature during its 2019-24 term.” This was stated by finance minister Payyavula Keshav in the legislative council on Wednesday. Replying to a question from D. Rama Rao, the minister said the previous government had set …

YSRC government stopped 93 central schemes: FM Keshav
4 months ago

YSRC government stopped 93 central schemes: FM Keshav

Deccan Chronicle  

Vijayawada:The past five years saw a three-fold increase in Andhra Pradesh’s debts, Finance Minister Payyavula Keshav has stated in the legislative Assembly. “The day Chandrababu Naidu left office in 2019, the debts of AP were ` 3.75 lakh crore; and when the Jagan Reddy government left office, the debts were `9.70 lakh crore,” he said. Our government released `1450 crore …

Private capex to pick up, ₹4 lakh crore credit demand pipeline from India Inc: SBI Chairman
5 months, 3 weeks ago

Private capex to pick up, ₹4 lakh crore credit demand pipeline from India Inc: SBI Chairman

The Hindu  

Setty has said the bank has already got ₹4 lakh crore strong credit pipeline from India Inc and expressed hope that capital expenditure by the private sector is expected to pick up in the second half of the fiscal year. As far as public spending is concerned, Finance Minister Nirmala Sitharaman in the Budget proposed to raise the capital expenditure …

What’s the Budget push for infrastructure?
7 months, 2 weeks ago

What’s the Budget push for infrastructure?

The Hindu  

The story so far: In her Budget proposals for 2024-25, Finance Minister Nirmala Sitharaman has set aside ₹11 lakh crore for capital expenditure, comprising 3.4% of the GDP. With the aim to push States to spend on infrastructure, she said ₹1.5 lakh crore was being made available to them in the form of long-term interest free loans. Under the Sagarmala …

Nearly 85% of capital expenditure loans to states released in FY24: Finance ministry
7 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 …

Budget 2024: Growth, reforms and infrastructure
7 months, 3 weeks ago

Budget 2024: Growth, reforms and infrastructure

The Hindu  

The 2024 Budget signals policy continuity. Specifically, the Budget focuses on these key priorities - resilient agriculture, promoting skill development, driving employment and inclusivity, accelerating infrastructure development, energy security, fostering innovation and progressive reforms. Focus on infrastructure The government has earmarked an impressive capital expenditure of over ₹11 lakh crore, equivalent to 3.4% of the GDP, towards infrastructure development. By …

Budgetary allocations in UP: 67% funds used so far, efforts on to utilise money by March 31
1 year ago

Budgetary allocations in UP: 67% funds used so far, efforts on to utilise money by March 31

Hindustan Times  

LUCKNOW With the current financial year ending on March 31, 2024, the state government has so far used nearly 67% of the budgetary funds and efforts have been stepped up to ensure that departments make use of the funds without compromising on quality. The state government got an annual budget of ₹ 6.90 lakh crore approved from the state legislature …

Centre disburses Rs 4,122 crores to Kerala
1 year ago

Centre disburses Rs 4,122 crores to Kerala

New Indian Express  

THIRUVANANTHAPURAM: An amount of Rs 4,122 crore sanctioned by the Centre as tax devolution and IGST settlement has helped the state government weather the financial crisis, at least for the time being. The Centre had put on hold the allocation of an additional borrowing space worth Rs 13,609 crore following the court case. The state government would seek an interim …

Inside the Centre vs states battle over funds
1 year, 1 month ago

Inside the Centre vs states battle over funds

Hindustan Times  

Karnataka protested against the Centre on Wednesday, claiming it was not getting its fair share of taxes, which crimps its ability to do good for the state, and Kerala and Tamil Nadu have similar protests lined up in Delhi in the coming days, as the fractures in India’s fiscal federalist framework become more marked. Of the shortfall of ₹1.65 lakh …

Budget 2024: More Power to Infrastructure as Capex Outlay Increased to Rs 11.11 Lakh Crore
1 year, 1 month ago

Budget 2024: More Power to Infrastructure as Capex Outlay Increased to Rs 11.11 Lakh Crore

News 18  

Ensuring more power to infrastructure development for economic growth and employment creation, a large sum of Rs 11,11,111 crore has been set aside as the capital expenditure outlay in the interim budget 2024. “Building on the massive tripling of the capital expenditure outlay in the last four years, resulting in a huge multiplier impact on economic growth and employment creation, …

2024 Interim Budget | Net zero gain for job guarantee scheme
1 year, 1 month ago

2024 Interim Budget | Net zero gain for job guarantee scheme

The Hindu  

With allocation of ₹86,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme, the budget for the scheme for the financial year 2024-25 has been hiked by ₹26,000 crore in comparison to the 2023-24 Budget estimates, though it is the same as the revised estimates for the ongoing financial year. In the 2023 Budget, only ₹60,000 crore was allocated …

UP surpasses capex target, set to get 2nd tranche of central loan
1 year, 5 months ago

UP surpasses capex target, set to get 2nd tranche of central loan

Hindustan Times  

LUCKNOW Uttar Pradesh government has spent 51% of the capital expenditure target against the required 45% to get the second instalment of an interest-free loan for 50 years from the Centre under its special assistance scheme for the states. The government proposes to spend all the funds earmarked for capital expenditure by the end of 2023-2024, and this is bound …

Centre's clarification on AP loans acts as weapon' for YSRC to disprove TD charge
1 year, 7 months ago

Centre's clarification on AP loans acts as weapon' for YSRC to disprove TD charge

Deccan Chronicle  

Vijayawada: The ruling YSRC has started counter-attacks on the Opposition parties, including Telugu Desam, by firmly refuting allegations of “indiscriminate” borrowings by the state government over the last four years of its rule. She stated in Parliament that the previous TD government had taken loans of Rs 2,64,451 crore between 2014 and 2019, while the outstanding loans went up to …

Centre approves Rs.56,415 crore to 16 States under 2023-24 capital investment scheme: Finance Ministry
1 year, 8 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 …

Expect States to tap ₹1.3 lakh crore capex loan window quicker: Nirmala Sitharaman
2 years, 1 month 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 …

Budget 2023: Key takeaways from Nirmala Sitharaman's announcements
2 years, 1 month ago

Budget 2023: Key takeaways from Nirmala Sitharaman's announcements

Hindustan Times  

The Narendra Modi government at the Centre will focus on economic growth and job creation and cut down the fiscal deficit, Union finance minister Nirmala Sitharaman said on Wednesday, presenting its last full budget in Parliament before the 2024 election. She also said the enhanced capex of ₹10 lakh crore for infrastructure development is at 3.3 per cent of the …

Budget 2023 | Government to continue 50-year interest-free loans to States for another year: FM Nirmala Sitharaman
2 years, 1 month ago

Budget 2023 | Government to continue 50-year interest-free loans to States for another year: FM Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on February 1 announced that the Centre will continue 50-year interest-free loans to State governments for one more year. Budget 2023 | Record allocation of ₹2.4 lakh crore for Railways On October 13 last year, Prime Minister Narendra Modi had launched the Gati Shakti - National Master Plan, aimed at developing integrated infrastructure to reduce logistics …

Adimulapu refutes reports on cut in SC, ST welfare funds
2 years, 1 month ago

Adimulapu refutes reports on cut in SC, ST welfare funds

Deccan Chronicle  

Vijayawada: Municipal administration and urban development Adimulapu Suresh on Wednesday asserted that the YSRC government is committed to uplift of Dalits and STs and has thus extended the SC, ST sub-plan by another 10 years. Jagan Mohan Reddy has in fact spent additional 45.4 percent funds on SC welfare and 25 percent on ST welfare during past three-and-a-half years compared …

7,660 crore central funds meant for Panchayat Raj diverted by AP to pay power bills
2 years, 6 months ago

7,660 crore central funds meant for Panchayat Raj diverted by AP to pay power bills

Deccan Chronicle  

KAKINADA: Andhra Pradesh Panchayat Raj Chamber president Rajendra Prasad said here on Thursday that the state government diverted Rs. 7,660 crore of central funds for Panchayat Raj to clear the panchayats’ arrears in electricity bills, against the norms. Participating in a sarpanches awareness meeting organised by the Telugu Desam here, Prasad said it was state finance minister Rajendranath who announced …

TD’s plot to target YSR Congress govt on poor finances boomerangs
2 years, 8 months ago

TD’s plot to target YSR Congress govt on poor finances boomerangs

Deccan Chronicle  

Vijayawada: The Opposition Telugu Desam’s attempt to target the ruling YSR Congress government for the state’s finance problems has boomeranged in Parliament on Tuesday. In reply, the Union minister of state for finance Pankaj Chaudhary detailed the house about a huge excess expenditure by the then TD government, after the 2014 state bifurcation. The Union minister also said that as …

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23
3 years, 3 months ago

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23

Firstpost  

Finance Minister Nirmala Sitharaman is expected to present the fourth budget of the Modi 2.0 government on 1 February New Delhi: The government is unlikely to announce capital infusion for public sector banks in the upcoming Budget, as their financial health has improved on the back of reduction in bad loans, sources said. During the last financial year, PSBs raised …

Need to double infra spending: Seth
3 years, 5 months ago

Need to double infra spending: Seth

The Hindu  

India needs to double its infrastructure spending and the private sector must step up and partner with the government, Economic Affairs Secretary Ajay Seth said on Monday, adding that the ministry was actively working on the Gati Shakti vision outlined by the Prime Minister. Mr. Seth said that work was apace on operationalising the ₹111 lakh crore National Infrastructure Pipeline …

Parliament proceedings | Banks' NPAs decline to ₹8.08 lakh crore in Sept 2020: Govt
4 years, 1 month ago

Parliament proceedings | Banks' NPAs decline to ₹8.08 lakh crore in Sept 2020: Govt

The Hindu  

Non-performing assets or bad loans of the banking sector came down from a high of ₹10.36 lakh crore at the end of March 2018 to ₹8.08 lakh crore at the end of September 2020 due to various initiative of the government, Minister of State for Finance Anurag Thakur informed the Rajya Sabha on Tuesday. As a result of the Asset …

A look at the winners and losers of Nirmala Sitharaman's Budget 2021
4 years, 1 month 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 …

Not paying GST compensation may lead to Rs 3 lakh crore cut in capex by states in FY21: Report
4 years, 6 months ago

Not paying GST compensation may lead to Rs 3 lakh crore cut in capex by states in FY21: Report

India TV News  

Not paying the full GST compensations by the Centre is among the factors which may result in up to Rs 3 lakh crore cut in capital expenditure by the states in FY21, a report said on Wednesday. In the Goods and Services Tax Council meeting held on August 27, the government pegged the gap between the GST compensation requirement of …

FinMin to take call on PSU banks’ capital infusion requirements after September
5 years, 10 months ago

FinMin to take call on PSU banks’ capital infusion requirements after September

Live Mint  

The Finance Ministry will review the capital infusion requirements of PSU banks after September and there will be separate allocation for recapitalisation in the general Budget likely to be presented in July. According to official sources, by September, the capital position with regard to the regulatory requirements and growth of all the PSU banks which received funds in 2018-19 will …

Govt seeks ₹41,000 crore more for bank recapitalisation
6 years, 3 months ago

Govt seeks ₹41,000 crore more for bank recapitalisation

Live Mint  

New Delhi/Mumbai: The government on Thursday sought Parliament’s approval for supplementary grants worth ₹ 41,000 crore to infuse fresh capital into ailing state-run banks in the current fiscal. With the additional ₹ 41,000 crore of capital infusion by 31 March, the government will be infusing a total ₹ 83,000 crore into public sector banks this year. “This entire exercise will …

Recapitalisation plan: Govt to infuse Rs 7,577 cr in 6 weak state-run banks under Indradhanus plan
7 years, 2 months ago

Recapitalisation plan: Govt to infuse Rs 7,577 cr in 6 weak state-run banks under Indradhanus plan

Firstpost  

New Delhi: The finance ministry has approved proposal for infusion of Rs 7,577 crore in 6 weak public sector banks as part of the recapitalisation plan to bolster capital adequacy ratio. Kolkata-based UCO Bank on Wednesday announced approval of board for the proposal to issue equity shares on preferential basis to the government against capital contribution of Rs 1,375 crore …

Recapitalisation of lenders: Banking secretary says banks not to get easy money under Rs 2.11-lakh crore plan
7 years, 4 months ago

Recapitalisation of lenders: Banking secretary says banks not to get easy money under Rs 2.11-lakh crore plan

Firstpost  

Gurugram: Exhorting state-owned lenders to go in for reforms, Financial Services Secretary Rajiv Kumar on Monday said the banks are not going to get easy money as part of the Rs 2.11-lakh crore recapitalisation plan of the government. Last month, the government had unveiled a staggering Rs 2.11-lakh crore two-year road map to bolster NPA-hit public sector banks, which includes …

Rs 2.11 lakh cr bank recapitalisation: Are taxpayers going to bail out lenders looted by crony promoters?
7 years, 4 months ago

Rs 2.11 lakh cr bank recapitalisation: Are taxpayers going to bail out lenders looted by crony promoters?

Firstpost  

If the recovery from defaulters is not followed up simultaneously, in effect, the taxpayer’s money is being used to compensate banks The Narendra Modi government’s Rs 9 lakh crore fiscal stimulus package, announced by Union finance minister Arun Jaitley and his team of officials at the finance ministry, is the first major acknowledgement from the government that all is not …

Modi govt unveils grand plans to spur economy, create jobs, recapitalise banks and more
7 years, 4 months ago

Modi govt unveils grand plans to spur economy, create jobs, recapitalise banks and more

India TV News  

Seeking to boost note ban and GST-hit economy, Finance Minister Arun Jaitley on Tuesday announced a massive Rs 6.92 lakh crore infrastructure spending and another Rs 2.11 lakh crore for bank recapitalisation to revive investments as well as growth. Public sector banks, which remain the main source of funding, have seen NPAs or bad loans swell from Rs 2.78 lakh …

Economic slowdown: Govt plans Rs 2.11 lakh cr bank recapitalisation, Rs 6.92 lakh cr infra push
7 years, 4 months ago

Economic slowdown: Govt plans Rs 2.11 lakh cr bank recapitalisation, Rs 6.92 lakh cr infra push

Firstpost  

The 2.11 lakh crore plan is aimed at boosting the confidence of the NPA-ridden banking sector and infrastructure push is expected to create more jobs In a bid to boost the slowing down economy, the Cabinet on Tuesday approved Rs 2.11 lakh crore capitalisation plan for NPA-ridden public sector banks, of which Rs 76,000 cr will be budgetary support and …

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