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GFCF in Indian economy increases from Rs. 45.41 lakh crore in FY19 to Rs 54.35 lakh crore in FY23: Pankaj Chaudhary

02 Aug 2023 Evaluate

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.


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