Latest news with #SpecialAssistancetoStatesforCapitalInvestment
NDTV
2 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.
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Business Standard
3 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.)
The Hindu
3 days ago
- Business
- The Hindu
Andhra Pradesh Chief Minister Chandrababu Naidu urges Centre to provide ₹10,000 crore under SASCI, revenue deficit compensation
Andhra Pradesh Chief Minister N. Chandrababu Naidu has appealed to Union Finance Minister Nirmala Sitharaman to allocate an additional ₹10,000 crore to the State under the Special Assistance to States for Capital Investment (SASCI) scheme for the financial year 2025–26. During a meeting held on the second day of his visit to New Delhi on Wednesday, Mr. Naidu submitted a representation seeking financial assistance for various key projects. He requested the Centre to accept Andhra Pradesh's appeal to the 16th Finance Commission for revenue deficit compensation, highlighting the continued financial strain caused by the bifurcation of the State. Mr. Naidu emphasised that the State still grappled with limited financial resources, which was affecting its developmental aspirations. The Chief Minister informed Ms. Sitharaman that while the estimated cost for the construction of the new capital Amaravati stood at ₹79,280 crore, works worth ₹44,351 crore had already been initiated. Of this, ₹26,000 crore had been mobilised so far. Mr. Naidu urged the Centre to release the next tranche of funds as a grant rather than a loan. He also expressed gratitude to the Union Government for its continued support to major infrastructure projects such as Amaravati and Polavaram irrigation project.
Hans India
6 days ago
- Business
- Hans India
Union Minister Sitharaman concludes Meghalaya visit; inaugurates multiple projects
Shillong: Union Finance Minister Nirmala Sitharaman concluded her four-day Meghalaya visit on Sunday with a trip to the historic Ramakrishna Mission School in Sohra, where she paid homage to Swami Vivekananda, government officials said. During Union Minister Sitharaman's visit to the state, Meghalaya marked a significant milestone in its development journey as she inaugurated and laid foundation stones for multiple key projects worth Rs 1,087.81 crore. Speaking at the integrated public programme held at LARITI – International Centre for Performing Arts and Culture earlier this week, Union Minister Sitharaman praised Meghalaya's steady progress and visionary leadership under Chief Minister Conrad K. Sangma. Highlighting the Centre's support, the Union Finance Minister said that Meghalaya has been allocated a total of Rs 5,400 crore under the Special Assistance to States for Capital Investment (SASCI) scheme. Commending the effective use of funds, she remarked, "I am happy that the government has used the amount effectively for capital assets. I want to place on record my appreciation for Meghalaya's efforts. The funds are being fully utilised. Some states have struggled to use their entire share, but Meghalaya has made the most of its allocation." Meanwhile, the Union Finance Minister toured the Ramakrishna Mission School's vocational training centre on Sunday, interacting with around 100 women receiving free weaving training -- a key empowerment initiative she praised. Swami Anuragananda, Secretary of the Mission, highlighted Union Minister Sitharaman's enduring ties to the institution. "She took keen interest in our century-long journey, from education and healthcare to community service, and acknowledged our impact," he said. The Union Minister also engaged with local entrepreneurs and trainees, applauding their resilience. The school's storied alumni -- including former Meghalaya Chief Minister B.B. Lyngdoh, MP G.G. Swell, and former Assembly Speaker Donkupar Roy -- drew her attention, underscoring the institution's role in shaping leaders. The visit coincided with its centenary celebrations, marked by Union Minister Sitharaman planting a sapling as a symbol of enduring legacy. Dignitaries like Padma Shri awardee Theilin Phanbuh, a women's welfare advocate, and 90-year-old Lolin Lyndem -- an alumnus and former teacher -- joined the event.
Hans India
6 days ago
- Business
- Hans India
FM Sitharaman interacts with students, staff of Ramakrishna Mission Ashram school in Meghalaya
New Delhi: Union Finance Minister Nirmala Sitharaman on Sunday visited the Ramakrishna Mission Ashram School in Sohra, Meghalaya, and interacted warmly with the students, teachers and staff members, highlighting the government's continued engagement with educational and livelihood initiatives in the North Eastern region. During her visit, FM Sitharaman explored various facilities at the school, including the Tailoring and Weaving Centre that operates under the Swavalamban Alternative Livelihood Unit for the East (SALUTE) initiative. She appreciated the efforts being made to provide skill-based training and alternative livelihood opportunities through such centres. The Finance Minister was accompanied by Swami Anuragananda, Secretary of the Ramakrishna Mission. Together, they toured the campus and spoke to the school community, acknowledging the positive role of the institution in the region's development. One of the most touching moments of the visit was her interaction with 90-year-old Kong Lolin Lyndem, who had both studied and taught at the Ramakrishna Mission Ashram School. FM Sitharaman shared a few words with her, appreciating her long association and contribution to the school. Meanwhile, Meghalaya marked a significant milestone in its development journey on Friday as Union Finance Minister Sitharaman inaugurated and laid foundation stones for multiple key projects worth Rs 1,087.81 crore in the state. Speaking at the Integrated Public Programme held at LARITI – International Centre for Performing Arts and Culture earlier this week, FM Sitharaman praised Meghalaya's steady progress and visionary leadership under Chief Minister Conrad K. Sangma. Highlighting the Centre's support, the Finance Minister said that Meghalaya has been allocated a total of Rs 5,400 crore under the Special Assistance to States for Capital Investment (SASCI) scheme. Commending the effective use of funds, she remarked, "I am happy that the government has used the amount effectively for capital assets. I want to place on record my appreciation for Meghalaya's efforts. The funds are being fully utilised. Some states have struggled to use their entire share, but Meghalaya has made the most of its allocation."
