50-yr loans for states, Rs 25,000 crore for Centre: Capital expenditure push
Months after giving the supply side of the economy a boost, the Union government announced multiple steps to give a fillip to the demand side. Apart from two schemes to increase consumer spending, Union Finance Minister Nirmala Sitharaman announced dual measures to hike capital expenditure, by both the Centre and the states. For the latter, she announced a Rs 12,000 crore loan scheme, repayable after 50 years with no servicing in the interim. For the central government, Rs 25,000 crore has been added to the capex budget. The move comes ahead of the festive season and signs that the economy is limping back to pre-Covid levels in many sectors. Watch the full video for more.