The ministryof finance has approvedcapital investment proposals of Rs 56,415 crore for 16 states in the current financial year under a special assistance scheme announced in the budget.

To boost capital spending by states, the ‘Special Assistance to States for Capital Investment 2023-24’ scheme was announced in the Union Budget 2023-24.

Special assistance is being provided to the states in the form of a 50-year interest-free loan up to an overall sum of Rs 1.3 lakh crore during the financial year 2023-24.

Capital investment projects in diverse sectors have been approved, including health, education, irrigation, water supply, power, roads, bridges, and railways.

Funds for meeting the state share of the Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana have also been provided to the states under this scheme to enhance the pace of the projects in these sectors.

A similar scheme titled ‘Special Assistance to States for Capital Investment for 2022-23’ was also executed by the finance ministry in the last financial year. Under the scheme, capital investment proposals of Rs 95,147.19 crore were approved, and an amount of Rs 81,195.35 crore was released to the states.

Meanwhile, the technical bids coming for the seventh round of commercial coal block auctions will be opened on June 28, an official statement said on Monday. On March 29, the government launched the seventh round of auctions.