Finance Minister Nirmala Sitharaman said the Center is ready to consider states’ own priority projects so that they can get money from interest-free, 50-year loans of Rs 1,00,000 crore, even if they are strictly in specified areas. Do not come from Latest Union Budget.
“We will accept any project, but more than that, if they are all within the broader framework of PM Gati Shakti, which seeks to ensure that there will be optimum use of context in each project,” she asked for a query. Hindu. “If I want an airport in my constituency, is there industry or residents around it, is there any economic activity going on,” he indicated, there should be some economic justification and synergy for considering such projects.
As per the budget, the loan can be availed for projects related to PM Gati Shakti programme, digitizing the economy, construction of rural roads and reforms related to urban transit, building laws and town planning.
“States may have some preference and that is what we have left to the states because one-size-fits-all does not work. Every state has its own requirements. While one may require ropeways, that may not work in other states,” she explained, adding that climate-related and green energy projects will also be allowed. The minister expressed confidence that the states would utilize the entire Rs 1 lakh crore. “States have great capacity to execute such projects. We had offered Rs 10,000 crore this year with similar terms, we increased it to Rs 15,000 crore as the response was very good,” she said.
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