India News | Govt Announces Rs 1.5 Lakh Cr Interest-free Loans for Infra Development in States
Get latest articles and stories on India at LatestLY. To help states in developing their infrastructure, the government will provide Rs 1.5 lakh crore worth interest-free loans on a long-term basis.
New Delhi, Jul 23 (PTI) To help states in developing their infrastructure, the government will provide Rs 1.5 lakh crore worth interest-free loans on a long-term basis.
Making the announcement in the Union Budget 2024-25, Finance Minister Nirmala Sitharaman on Tuesday also said private sector investment will be facilitated for the infrastructure sector through viability gap funding.
The government's endeavour is to maintain strong fiscal support for infrastructure over the next five years, she said, adding that road connectivity projects will be developed at a cost of Rs 26,000 crore.
Among others, industrial node at Gaya on Amritsar-Kolkata Industrial Corridor will be developed.
The capital expenditure is pegged at Rs 11,11,111 crore -- 3.4 per cent of the GDP.
The Budget has also announced launching the fourth phase of the PM Gram Sadak Yojana in 25 rural habitations and providing assistance to Assam for flood management and related projects.
Meanwhile, the minister said street food hubs will be set up in select cities.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)