Minister of State for Finance Pankaj Chaudhary said the Gross Fixed Capital Formation (GFCF) in the Indian economy has increased from Rs. 45.41 lakh crore (constant 2011-12 prices) in 2018-19 to Rs 54.35 lakh crore in 2022-23 (Provisional Estimates). He said 'the government is implementing the 'Scheme for Special Assistance to States for Capital Expenditure' (2020-21 & 2021-22) and 'Scheme for Special Assistance to States for Capital Investment' (2022-23 & 2023-24).'
He also said the government approved and released special assistance (loan) in the form of a 50-year interest-free loan for capital expenditure on capital projects in sectors like health, education, irrigation, and power etc for capital expenditure for different States.
Moreover, he said during 2023-24, Rs 84,883.90 crore have been sanctioned under Scheme for Special Assistance to States for Capital Expenditure/Investment to various states. He added Rs 29,517.66 crore have been disbursed so far during this fiscal.
