Budget 2024: Provision For Rs 75,000 Crore As 50-Year Interest-Free Loan For States

Finance Minister Nirmala Sitharaman in her interim budget 2024 speech announced a special provision of Rs 75,000 crore as a 50-year interest-free loan for milestone-linked reforms by state governments.

Many growth and development enabling reforms are needed in states for realising the vision of a 'Vikasit Bharat', she said.

On a state level, the minister also announced long-term interest-free loans for states towards development of quality centres with regards to tourism.

States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them on the global scale, the minister said.

For this, a framework for rating of centres will be established. This will be based on quality of centres, city and services provided. The interest-free loans will be provided on a matching basis.