Finance Ministry Has Approved Rs. 4,000 Crore Fund for PM Gati Shakti’s Infrastructure Projects
The Department of Expenditure under the Ministry of Finance, Government of India, has recently approved the disbursement of a whopping Rs. 4,000 crores for the infrastructural projects aligned with the vision and mission of the PM Gati Shakti Scheme. This fund disbursement would be a part of the ‘Scheme for Special Assistance to the States for Capital Investment for 2022–2023, which was flagged off in April. This scheme is aimed at providing a total allocation of Rs. one lakh crore in the form of a 50-year interest-free loan for capital investments. With about 190 projects in the pipeline from the 28 states of the nation, Rs. 5,000 crore has been allocated for the completion of the state projects.
In an interview, speaking about the same, Dr. Surendra Ahirwar, Joint Secretary (Logistics Division), Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, said, “Post April, after the notification, we have considered more than 190 projects from 28 states with a total value of more than Rs 5,000 crore, and these projects have been recommended to the Department of Expenditure for approval and disbursement of funds to the respective states as per their share. They (the Department of Expenditure) have given approval to most of them. They have considered all 191 proposals, some of which have been cleared, and to the extent of more than Rs. 4,000 crores, they have already been approved by the Department of Expenditure for disbursement among the states.”
Talking about additional fund allocation in case of requirement, Dr. Ahir said, “Then it is up to the Ministry of Finance to consider because they have said in case there is great merit in the projects and there are funds spared under the scheme from other heads, then it can be allocated to this particular kitty.”