new delhi the ministry of finance has approved capital investment proposals of rs 56415 crore for 16 states in the current financial year under a special assistance scheme announced in the budgetin order to boost capital spending by states the special assistance to states for capital investment 202324 scheme was announced in the union budget 202324 under the scheme special assistance is being provided to the states in the form of a 50year interestfree loan up to an overall sum of rs 13 lakh crore during the financial year 202324the department of expenditure has approved capital investment proposals of rs 56415 crore to 16 states in the current financial year under the special assistance to states for capital investment 202324 scheme a finance ministry statement saidcapital investment projects in diverse sectors have been approved including health education irrigation water supply power roads bridges and railwaysfunds for meeting the state share of jal jeevan mission and pradhan mantri gram sadak yojana have also been provided to the states under this scheme to enhance the pace of the projects in these sectorsa similar scheme titled special assistance to states for capital investment for 202223 was also executed by the finance ministry in the last financial year under the scheme capital investment proposals of rs 9514719 crore were approved and an amount of rs 8119535 crore was released to the states in the last financial yearthe scheme for financial assistance to states for capital investmentexpenditure first instituted by the ministry of finance in 202021 in the wake of the covid19 pandemic has given a very timely boost to capital spending by states