Madhya Pradesh and Andhra Pradesh have become the first group of states to complete three out of the four citizen centric reforms stipulated by the Ministry of Finance.
The two states have completed the One Nation, One Ration Card Reforms, Ease of Doing Business Reforms, and Urban Local Bodies Reforms, a Ministry of Finance statement said on Wednesday (6 January).
Consequent upon completion of reforms in the three sectors, the Ministry of Finance has decided to provide additional financial assistance amounting to Rs 1004 crore to these States under the newly launched Scheme of “Special Assistance to States for Capital Expenditure”, it added.
Andhra Pradesh will get an additional amount of Rs 344 crore while Madhya Pradesh has become entitled to receive Rs 660 crore for capital projects.
The scheme was announced by Finance Minister Nirmala Sitharaman on 12 October 2020 as part of AatmaNirbhar Bharat package.
The additional financial assistance for the capital expenditure is in addition to the permission of Rs14694 crore issued to these states for extra borrowings for completing the reforms, the ministry said.
The scheme of “Special Assistance to States for Capital Expenditure” is aimed at boosting capital expenditure by the state governments who are facing difficult financial environment this year due to the shortfall in tax revenue arising from the COVID-19 pandemic, it added.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.