ministry of finance – The News Desk

USD 175 million loan agreement signed with ADB to improve Madhya Pradesh roads

6Dec

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USD 175 million loan agreement signed with ADB to improve Madhya Pradesh roads

NEW DELHI: The central government and the Asian Development Bank (ADB) signed a USD 175 million loan to improve the connectivity and resilience of roads in Madhya Pradesh.The signatories to the loan agreement were Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, in the Ministry of Finance, for the Government of India, and Takeo Konishi, Country Director of ADB's India Resident Mission, for ADB.After signing the loan agreement on Tuesday, Mukherjee stated that this project will enhance connectivity in the state road network across 14 districts in Madhya Pradesh."Since 2002, ADB has supported road development in Madhya Pradesh upgrading more than 9,000 kilometers of state highways and major district roads. This project continues these efforts and will connect rural areas to ...

‘Wrong to Assess Economic Activity on GDP Alone’: Finance Ministry Defends Data, Calls Out Critics

Curated By: Saurabh VermaLast Updated: September 15, 2023, 23:18 ISTThe ministry further said critics want to latch on to anything that does not paint the Indian economy in a good light. (File: Finance Ministry)India’s gross domestic product (GDP) grew at four-quarter high of 7.8 per cent y-o-y during the April-June 2023 quarter (Q1 FY24) as compared with the 6.1 per cent growth registered in the preceding quarter ended March 2023 Amid criticism by certain sections on India’s GDP data, the Ministry of Finance on Friday said it is wrong to look at the underlying economic activity based on GDP indicators alone.India’s gross domestic product (GDP) grew at four-quarter high of 7.8 per cent y-o-y during the April-June 2023 quarter (Q1 FY24) as compared with the 6.1 per cent growth...

Centre clears Rs 56,415 crore to 16 states for capital investment

NEW DELHI: The ministry of finance has approved capital investment proposals of Rs 56,415 crore for 16 states in the current financial year under a special assistance scheme announced in the budget.In order to boost capital spending by states, the 'Special Assistance to States for Capital Investment 2023-24' scheme was announced in the Union Budget 2023-24. Under the scheme, special assistance is being provided to the states in the form of a 50-year interest-free loan up to an overall sum of Rs 1.3 lakh crore during the financial year 2023-24.The department of expenditure has approved capital investment proposals of Rs 56,415 crore to 16 states in the current financial year under the 'Special Assistance to States for Capital Investment 2023-24] scheme, a finance ministry statement said.Ca...