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National News

Sep 14, 2021
2:23PM

11 states achieve target set by Ministry of Finance for capital expenditure in 1st Quarter of 2021-22

@FinMinIndia
Eleven States have achieved the target set by the Ministry of Finance for the capital expenditure in the 1st Quarter of 2021-22.

These States are Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Kerala, Madhya Pradesh, Manipur, Meghalaya, Nagaland, Rajasthan and Uttarakhand.

Ministry of Finance in a statement said that as an incentive, these States have been granted permission by the Department of Expenditure to borrow an additional amount of 15 thousand 721 crore rupees. The additional financial resources thus made available will help the States in pushing their capital expenditure further. State wise amount of additional borrowing permitted is enclosed. 
 
In a statement , the Finance Ministry said that the capital expenditure has a high multiplier effect, enhances the future productive capacity of the economy, and results in a higher rate of economic growth.  To become eligible for incremental borrowing, States were required to achieve at least 15 percent of the target set for 2021-22 by the end of 1st quarter of this fiscal, 45 percent by the end of 2nd quarter, 70 percent by the end of 3rd quarter and 100 percent by 31st March 2022.
 
Next review of Capital expenditure of States will be undertaken by the Department of Expenditure in December, 2021. In that round, capital expenditure achieved by the States till 30th September 2021 will be assessed.

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