MP becomes first state to get additional funds for capital projects ANI | Updated: Jan 24, 2021 14:48 IST
New Delhi [India], January 24 (ANI): Madhya Pradesh has become the first state to get additional funds for capital projects for successfully carrying out reforms in various citizen-centric areas.
The Department of Expenditure, Ministry of Finance has allocated additional 660 crore rupees to the state for capital expenditure for undertaking the One Nation, One Ration Card Reforms, Ease of Doing Business Reforms, and Urban Local Bodies Reforms, according to an official statement. Madhya Pradesh has become the first state to get additional funds for capital projects for successfully carrying out reforms in various citizen-centric areas. The State has also completed a part of the fourth reform - the Power Sector reform, the Finance Ministry said.
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Madhya Pradesh and Andhra Pradesh have successfully completed three of the four citizen centric reforms despitr the coronavirus pandemic and stand to gain additional borrowing rights for capital expenditure stipulated, said the Ministry of Finance on Wednesday.
The four citizen centric reforms include the One Nation - One Ration Card Reforms, Ease of Doing Business Reforms, Urban Local Body/Utility Reform and Power Sector Reform. Barring the power sector reforms, these two states were able to complete the first three reforms, becoming the first group of states to be awarded with extra borrowing rights for capital expenditure.
Madhya Pradesh, Andhra Pradesh get additional financial assistance of ₹1,004 crore for capital expenditure
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AAA Centre has given additional financial assistance of ₹1,004 crore to Madhya Pradesh and Andhra Pradesh for capital expenditure after they completed three out of the four citizen-centric reforms.
The two States have completed the One Nation, One Ration Card Reforms, Ease of Doing Business Reforms, and Urban Local Bodies Reforms, Ministry of Finance said in a statement on January 6.
Consequent upon completion of reforms in the three sectors, the Department of Expenditure, Ministry of Finance has decided to provide additional financial assistance amounting to ₹1,004 crore to these States under the newly launched Scheme of Special Assistance to States for Capital Expenditure, it said.