The Finance Ministry has approved investments worth Rs 56,415 crore in 16 states as part of the ‘Special Assistance to States for Capital Investment 2023-24’ scheme, aimed at providing a timely boost to capital spending by states. The investments have been approved in sectors such as health, education, irrigation, power, roads, and railways, among others. The scheme includes a 50-year interest-free loan of up to Rs 1.3 lakh crore for state governments during the financial year 2023-24. The ministry has divided the scheme into eight parts, with allocation for each part based on the share of central taxes and duties of the respective states. Bihar received the highest allocation of Rs 9,640 crore, followed by Madhya Pradesh at Rs 7,850 crore. The previous year’s scheme, ‘Special Assistance to States for Capital Investment for 2022-23’, approved capital investment proposals worth Rs 95,147.19 crore, out of which Rs 81,195.35 crore was released to the states.