The 11 states of Andhra Pradesh, Bihar, Chhattisgarh, Hariyana, Kerala, Mudiya Pradesh, Manipur, Meghalaya, Nagaland, Rajasthan and Uttarakhand are in the first quarter of 2021-22. Achieved the capital expenditure target set by the Ministry of Finance. According to the government announcement.
As an incentive, these states have been granted permission by the Department of Expenditure to borrow an additional amount of SEK 15,721. The release further states that the additional open market loan grants granted represent 0.25 percent of gross domestic product (GSDP).
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Of the state’s 4% net borrowing limit (NBC) for 2021-22, 0.50% of GSDP was allocated to state-paid incremental capital expenditures for 2021-22. The target for each state’s incremental capital expenditure to qualify for this incremental borrowing was determined by the expenditure department.
To be eligible for incremental borrowing, the state has achieved at least 15% of the 2021-22 target set by the end of the April-June 2021-22 quarter and 45% by the end of the two quarters. I had to achieve it. September), 70% by the end of the third quarter (October to December), 100% by March 31, 2022.
The additional financial resources made available in this way will help the state further drive capital spending.
The announcement said that capital investment has a high multiplier effect, which will increase the future capacity of the economy and increase the economic growth rate.
The next review of state capital expenditures will be conducted by the Department of Expenditure in December 2021.
This round will evaluate the capital expenditures achieved by the state by September 30, 2021.
The third review will take place in March 2022, based on state capital expenditures in the first three quarters of 2021-22.
Borrowing caps linked to 0.50% capital expenditure of GSDP will reach at least 45% of the target by September 30, 2021 or 70% of the actual capital expenditure of the target by December 31, 2021 Is allowed to.
There is a final review of actual capital expenditures by the state in June 2022.
The state’s actual shortage / shortage of capital expenditure in 2021-22 compared to the 2021-22 target capital expenditure will be adjusted from the state’s borrowing limit in 2022-23. Said.
11 states achieved capital investment targets for the first quarter of 2010.Get permission to mobilize additional Rs 15,721cr
Source link 11 states achieved capital investment targets for the first quarter of 2010.Get permission to mobilize additional Rs 15,721cr