Centre has allocated ₹994cr for Punjab, says RS MP Sahney

Chandigarh: Rajya Sabha MP Vikramjit Singh Sahney announced on Saturday that the Union ministry of finance has allocated Rs 994 crore for Punjab from the Rs 55,000 crore earmarked in part 1 of the financial assistance scheme. The amount comes as a 50-year interest-free loan.
As per the written response to Sahney by the minister of state for finance, capital expenditure amounting to Rs 548.93 crore has been approved for Punjab and is under release, while proposals for the balance Rs 445 crores under part 1 are awaited.Pankaj Choudhary, minister of state for finance, said, “An amount of Rs 55,000 crore is earmarked under Part I of the ‘Scheme for special assistance to states for capital investment 20024-25’. Out of this, an amount of Rs 994 crore is allocated to Punjab in proportion to its share of central taxes and duties as recommended by the 15th Finance Commission. Punjab had submitted a proposal for Rs 583.93 crore under Part I of the scheme.” Sahney said the ministry has also consented to provide additional financial assistance to Punjab from the remaining Rs 1 lakh crore for capital expenditure for urban planning, urban finance, Make in India, One District One Product, and special support for establishing libraries with digital infrastructure at panchayat and ward levels, with Punjab aiming for a minimum of Rs 5,000 crore in grants.