Latest news with #SASCI
NDTV
4 days ago
- Business
- NDTV
Rekha Gupta Meets Nirmala Sitharaman, Centre Approves Rs 600 Crore For Delhi
New Delhi: Delhi Chief Minister Rekha Gupta on Wednesday met Union Finance Minister Nirmala Sitharaman and secured an assurance of Rs 600 crore under the Centre's Special Assistance to States for Capital Investment (SASCI) scheme. The meeting, held at the Ministry of Finance's office, was focused on Delhi's current development needs, the progress of existing schemes, and areas requiring urgent intervention. According to the Chief Minister's office, Ms Gupta briefed the Union Minister on issues such as urban infrastructure, traffic congestion, green energy, and drainage systems. According to CM Gupta, the Finance Minister responded positively and agreed to release Rs 600 crore under the SASCI scheme by the end of July, subject to a formal proposal from the Delhi government. Officials from both the central and state finance departments were attended the meeting. "Delhi's development is a shared responsibility and the Union Government has assured its continued support," CM Gupta said after the meeting with Niramala Sitharaman. The funds are expected to be used for bolstering capital expenditure in key sectors. These may include road and drainage infrastructure, solid waste management, and clean energy initiatives. CM Gupta called the meeting an example of "cooperative federalism in practice." She added that the SASCI funds would be used to speed up pending development work across the city. SASCI scheme, was launched in 2020–21, provides 50-year interest-free loans to states and union territories to support capital investment. The scheme aims to spur infrastructure growth and create jobs, especially in the post-pandemic economic context.
The Hindu
4 days ago
- Business
- The Hindu
Delhi to get ₹600 cr. central grant for development: CM Gupta
New Delhi The Delhi government will receive ₹600 crore in Central assistance by the end of July to accelerate key development projects, Chief Minister Rekha Gupta announced on Thursday after a meeting with Union Finance Minister Nirmala Sitharaman. The financial aid under the Centre's Special Assistance to States/UTs for Capital Investment (SASCI) will be deployed to expedite various infrastructure and civic projects across the Capital, including traffic management, drainage systems, green energy initiatives, and waste management reforms. A formal proposal for the allocation will soon be submitted to the Union Ministry of Finance, the Chief Minister's Office said in a statement. Launched in 2020-21, the SASCI scheme offers 50-year, interest-free loans to States and Union Territories to fund capital investment projects. Delhi's allocation under the scheme is expected to give major momentum to infrastructure projects already outlined in the government's recent budget. 'Cultural hub' Noting that the scheme will be implemented with full dedication, Ms. Gupta said the government aims to transform Delhi into a world-class city. 'Delhi is not just the national capital, but also the cultural, administrative, and economic hub of India. Its governance and development model should set an example for others,' she said. The Chief Minister emphasised that the meeting marked a milestone in Delhi's development trajectory and underscored the importance of cooperative federalism in delivering results to citizens. She said the people of the city are reaping the benefits of the growing collaboration between the Centre and the Delhi government.
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Business Standard
4 days ago
- Business
- Business Standard
Delhi to receive Rs 600 cr Central funds under special assistance scheme
Delhi will receive Rs 600 crore from the Central government under a special assistance scheme for Union Territories, said an official statement on Thursday. Delhi Chief Minister Rekha Gupta said the funds will be used to accelerate development projects across the city, including initiatives for traffic management, drainage, green energy and waste management. Gupta met Union Finance Minister Nirmala Sitharaman and briefed about the progress of various ongoing schemes and future requirements, and highlighted how effective transformations are taking place in the capital with the support of the Central government, the statement said. Sitharaman shared details about the Special Assistance to States/UTs for Capital Investment (SASCI) scheme, under which the Delhi government will receive Rs 600 crore in special financial assistance by the end of this month, it quoted Gupta as saying. The chief minister mentioned that a proposal for this allocation will soon be sent to the Ministry of Finance. Gupta said the Union Finance Minister assured full and continued support from the Centre towards the development of Delhi. "Delhi is not just the capital of the country, but also the cultural, administrative and economic hub of India. Its planned development and good governance should serve as a model for all," she said, adding that the government is consistently working in this direction so that Delhi residents receive all the facilities they rightfully deserve. Expressing gratitude to the Union Finance Minister for her positive outlook and cooperative approach, Gupta said the people of Delhi are witnessing the direct benefits of the collaborative efforts between the Central and state governments. She assured that the SASCI scheme will be implemented effectively and that every effort will be made to transform Delhi into a world-class capital city. Senior officials from both the Finance Ministry and the Delhi government were present during the meeting. The chief minister also emphasised that this meeting was not only crucial for accelerating the development of Delhi but also a prime example of cooperative federalism in action. The SASCI scheme was launched in 2020-21 in response to the economic revival required after the Covid-19 pandemic. It aims to provide interest-free loans for 50 years to states and Union Territories to support capital expenditure. The scheme promotes infrastructure development, employment generation and sustainable growth, and enables states to become active partners in the nation's overall development by equipping them with financial resources, reforms and capital capabilities.
News18
4 days ago
- Business
- News18
Delhi To Get Rs 600 Crore As Special Financial Assistance From Centre
Delhi CM Rekha Gupta met Union Finance Minister Nirmala Sitharaman, securing ₹600 crore under SASCI scheme for capital investment, supporting infrastructure and employment. Delhi Chief Minister Rekha Gupta on Thursday met Union Finance Minister Nirmala Sitharaman, securing a ₹600 crore commitment under the Centre's Special Assistance to States/UTs for Capital Investment (SASCI) scheme. The funds are expected by the end of this month. The SASCI scheme was launched in 2020–21 in response to the economic revival required after the COVID-19 pandemic. The aim is to provide interest-free loans for 50 years to States and Union Territories to support capital expenditure. The scheme promotes infrastructure development, employment generation, and sustainable growth. It enables states to become active partners in the nation's overall development by equipping them with financial resources, reforms, and capital capabilities. In a statement issued after the meeting, Gupta's office said the finance minister was briefed about Delhi's ongoing development journey, current progress of various schemes, and future requirements. Sitharaman assured full and continued support from the Central Government towards the development of Delhi. '… the Union Finance Minister shared details about the SASCI scheme. Under this scheme, the Delhi Government will receive ₹600 crore in special financial assistance by the end of this month," the statement reads. Gupta said a proposal for the allocation will soon be sent to the Ministry of Finance, adding that the funds will be used to accelerate development projects across the city, including traffic management, drainage, green energy, and waste management initiatives. 'Delhi is not just the capital of the country, but also the cultural, administrative, and economic hub of India. Its planned development and good governance should serve as a model for all," the CM said. Gupta stated that the people of Delhi are witnessing the direct benefits of the collaborative efforts between the Central and State Governments. In February, the BJP finally came to power in Delhi after almost three decades out of power in the city. With the political alignment at centre and state level, the flow of development has improved, the government says. This meeting with Sitharaman comes weeks after Gupta met Union Ministers Amit Shah and Nitin Gadkari to seek the Centre's help for Delhi's development. view comments First Published: July 17, 2025, 20:31 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
5 days ago
- Business
- Business Standard
Andhra CM meets Sitharaman; seeks Rs 10,000 cr support for various projects
Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday met Union Finance Minister Nirmala Sitharaman and sought additional financial support of Rs 10,000 crore for various projects. On his second day of the visit, the Telugu Desam Party (TDP) chief -- a key NDA ally -- highlighted that the state is still facing a deficit of financial resources due to bifurcation, an official release said. Naidu requested the central government to grant an additional allocation of Rs 10,000 crore under the Special Assistance to States for Capital Investment (SASCI) scheme for 2025-26. He sought the release of the second tranche of funds as a grant to Amaravati capital, and appealed to the Union Minister to make up for the revenue deficit faced by the state under the 16th Finance Commission. He submitted a memorandum requesting financial support for various state projects. The chief minister informed Sitharaman that the construction of Amaravati requires a total of Rs 79,280 crore, with works worth Rs 44,351 crore already underway. However, Rs 26,000 crore remains unallocated, the release stated. He emphasized the need for additional funds to complete the capital's development and requested that the second tranche of aid for Amaravati be disbursed as a grant. The chief minister also expressed gratitude to the central government for its support in the construction of Amaravati and the Polavaram project. Union Aviation Minister K Rammohan Naidu was among other TDP leaders present in the meeting. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
