FM extends 50-year interest-free loans to state governments in Budget 2024

The master plan has helped states attract investments in the past and keep India on course to be a $ 5 trillion economy by 2030.

Finance Minister Nirmala Sitharaman in her Budget speech 2024 on July 23 said that the 50-year interest-free loans to state governments have been extended for another year, as part of the government's Gati Shakti master plan.

"The scheme of a fifty-year interest-free loan for capital expenditure to states will be continued this year with a total outlay of  RS 1.5 lakh crore," Sitharaman said.

The Finance Minister as part of her Budget speech on July 23 did not mention the total proposed outlay under the government's Gati Shakti master plan.

The Gati Shakti Master plan, a pet project of Prime Minister Narendra Modi, involves holistic policymaking for the seven infrastructure sub-sectors, with one digital portal that can be accessed by all stakeholders for real-time information.

The master plan has helped states attract investments in the past and keep India on course to be a $ 5 trillion economy by 2030.