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August 7, 2026
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Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
August 7, 2026
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Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
August 7, 2026
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BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
August 7, 2026
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Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
August 6, 2026
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Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
August 6, 2026
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Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
August 6, 2026
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Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
August 6, 2026
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Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
August 6, 2026
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Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
August 6, 2026
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Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
August 6, 2026
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Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
August 6, 2026
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NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
August 6, 2026
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Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
August 6, 2026
Show AI Summary
Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
August 6, 2026
Show AI Summary
Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
August 6, 2026
Show AI Summary
Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
August 6, 2026
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Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
August 6, 2026
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Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
August 6, 2026
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Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
August 6, 2026
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Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.

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Ministry of Finance Year Ender 2023: Department of Expenditure

December 27, 2023

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In the dynamic landscape of fiscal management, the Department of Expenditure (DoE) oversees the public financial management system in the Central Government and matters connected with State finances.

Implementing the recommendations of the 15th Finance Commission, DoE approved grants-in-aid totalling Rs. 1,79,140 crore to State Governments for the fiscal year 2023-24. These grants encompass various crucial sectors such as post-devolution revenue deficit, health, disaster management, and local bodies, demonstrating a comprehensive approach to regional development.

Through, the Data Gap Initiative, initiated in response to the 2007-08 global financial crisis, the Controller General of Accounts transitioned India's statistical system from ‘RED’ to ‘AMBER’, aligning with international standards. This commitment to transparent and comparable government finance statistics reflects the nation's resilience in anticipating and addressing vulnerabilities.

The Public Financial Management System (PFMS) has been a cornerstone in the implementation of Direct Benefit Transfer (DBT), a crucial aspect of the Digital India Initiative. With over 104.02 crore beneficiaries registered under various schemes, PFMS has facilitated the efficient transfer of funds, with an emphasis on real-time tracking and accessibility. The DBT Payment Summary since its inception showcases a substantial increase in both the number of schemes and the amount disbursed, underlining the system's impact.

Furthermore, the integration of treasury systems across States and Union Territories through the Single Nodal Account (SNA) framework has streamlined fund flow and expenditure tracking. The GIFMIS Vertical, eGramSwaraj Interface, and initiatives like SNA-SPARSH and the Central Nodal Account (CNA) Implementation exemplify the commitment to e-Governance and digital transformation.

The Special Assistance to States for Capital Expenditure, with its multi-faceted approach, stands out as a strategic move to boost state economies. This includes untied funds, incentives for scrapping old vehicles, urban planning reforms, financing reforms in urban local bodies, and housing initiatives.

In the pension domain, the Central Pension Accounting Office's (CPAO) innovative initiatives, including the DIRGHAYU Mobile Application and Virtual Pension Adalat, demonstrate a commitment to addressing the needs of pensioners efficiently.

Lastly, the Vivad Se Vishwas Scheme, introduced in the Union Budget 2023-24, has provided relief to MSMEs and sought to settle pending contractual disputes, further fostering economic stability. These achievements collectively underscore the Department of Expenditure's unwavering commitment to fiscal prudence, transparency, and inclusive development in the year 2023.

Following are some of the major achievements of the Department of Expenditure, Ministry of Finance, in 2023:

Data Gap Initiative

In 2009, the G-20 Finance Ministers and Central Bank Governors endorsed the ‘Data Gap Initiative’ (DGI) to address gap in data revealed by 2007-08 Global financial crisis. The crisis underscored the importance of reliable, timely and internationally comparable Government Finance Statistics (GFS) data on the general government for early detection of sources of vulnerability and taking timely corrective measures.

The Controller General of Accounts (CGA) plugged the gap in India's Statistical System by transitioning from 'RED' to ‘AMBER' label, showcasing the Ministry of Finance, Government of India's commitment of sharing reliable, timely and internationally comparable data as per DGI Recommendation.

The data was presented in conformity with the definitions of the Government Finance Statistics Manual, 2014 (GFSM 2014) by the CGA in coordination with the Department of Expenditure and Department of Economic Affairs, MoF, as well as IMF-SARTTAC (South Asia Regional Training and Technical Assistance Centre) to the International Monetary Fund (IMF).

Direct Benefit Transfer (DBT) Through Public Financial Management System (PFMS)

Through Public Financial Management System [PFMS]

  • Public Financial Management System (PFMS) makes a direct and significant contribution to the Digital India Initiative of Government of India enabling Direct Benefit Transfer for beneficiaries for Ministries/departments in Government of India.

DBT Through PFMS Aims to Achieve

  • Complete tracking of realisation of funds from its release to credit into the bank account of intended beneficiaries.
  • 'Just in time' transfer of funds.

Direct Benefit Transfer (DBT)

  • Payments in 1,016 schemes, including state schemes, are made through PFMS.
  • PFMS-External System Integration: More than 113 payment systems in India are integrated with PFMS.

Almost all the Centrally Sponsored Schemes (CSS) and Central Sector Schemes (CS) are on the PFMS and all the Major Banks including RBI have interface with PFMS.

Direct Benefit Transfer Payment Summary Since Inception

Financial Year

Number of schemes

Total transactions

(in cr)

Amount Paid

(in lakh cr)

2014-15

56

2.19

0.06

2015-16

90

6.75

0.22

2016-17

162

10.11

0.31

2017-18

296

16.55

0.90

2018-19

414

50.97

1.39

2019-20

507

102.37

2.46

2020-21

603

126.88

2.89

2021-22

891

190.36

3.14

2022-23

1081

266.14

3.29

2023-24
(upto 30.11.2023)

1016

167.94

2.14

 

Major Highlights of Direct Benefit Transfer

  • More than 104.02 crore beneficiaries registered under various DBT schemes as of September 2023.
  • Rs. 37,844.42 crore paid through 18.92 crore transactions under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana during the FY 2023-24 till November 2023.
  • On boarding of PAHAL scheme of MoPNG on PFMS:
  • The payment for PAHAL (Pratyaksh Hastantarit Labh) gas subsidy started w.e.f 1st August 2021 onwards having largest number of beneficiary i.e. over 30 crore.
  • Rs. 8,142.49 crore paid under the scheme through 76.95 crore transactions during FY 2023-24 till November 2023.
  • DBT Tracker:
    • With an average 17,200 hits per day, payment tracker (Beta Version) has successfully met the needs of beneficiaries since its deployment on August 23,2023. Total hits as on 05.12.2023 is 21,00,764.

  • Sending Sms To DBT Beneficiaries Across All Schemes
  • PFMS sends SMS of transactions under various DBT schemes to ensure more and more citizen centric services for DBT Beneficiaries.
  • As in November 2023 around 4,66,50,704 SMS sent under 412 DBT Scheme in FY 2023-24.

National Scholarship Portal

  • To enable scholarship beneficiaries to know their Credit status, PFMS has developed and deployed the 'Track NSP Payment' Status for scholarship payments functionality.
  • The 'one stop' portal for Indian students applying for scholarships aims to reduce discrepancies and provide a common, effective and transparent way to disburse scholarships by bringing together hundreds of scholarships run by Central and State Governments.

 

SINGLE NODAL ACCOUNT (SNA)

  1. Integration of treasury systems across various States and Union Territories (UTs)
  • Full seamless Treasury Integration (TI) achieved across all 31 State Treasuries
  • Budget and expenditure data are consistently exchanged in the new format through an API, maintaining regular and effective data flow.
  • The TI interface allows observation of State Treasuries w.r.t. transferring funds to Single Nodal Account (SNA) within specified timelines in compliance with the Department of Expenditure Office Memorandum dated 23/03/2021
  • Share of states and Central are displayed separately with date-wise listing of SNA releases.

  1. SINGLE NODAL ACCOUNT (SNA) IMPLEMENTATION
  • All schemes successfully onboarded by PFMS.
  • 4,396 schemes onboarded on SNA Module of PFMS for all Centrally Sponsored Schemes (CSS) across all the States and UTs.
  • Standalone systems like Samagra Shiksha, National Health Mission etc. used by the states are also integrated for MIS with PFMS.
  • New CSS framework SNA module fully operationalised in all the States.
  • SNA ensures efficient cash management and reduces float in the system.
  • CSS fund flow monitoring and tracking through SNA.

 

Central Nodal Account (CNA) Implementation

  • Procedure of release of funds under Central Sector Schemes (CS) revised on 09.03.2022.
  • CS fund flow monitoring and tracking through Central Nodal Account (CNA) module of PFMS.

CNA Implementation MODEL 1

  • Release funds through Reserve Bank of India for the Central Sector Schemes having GBE greater than Rs. 500 crore
  • 57 schemes onboarded under Model 1 till date on PFMS.

CNA Implementation MODEL 2

  • Release funds through Scheduled Commercial Banks (SCB) for the Central Sector Schemes having GBE less than Rs. 500 crore.
  • 210 schemes onboarded under Model 2 till date on PFMS.

eGramSwaraj Interface with PFMS

  • To strengthen e-Governance in Panchayati Raj Institutions (PRIs) across the country, Ministry of Panchayati Raj (MoPR) currently implements a user friendly web-based portal eGramSwaraj to bring in better transparency in the decentralised planning, progress reporting and work-based accounting.
  • Public Finance Management System (PFMS), Department of Expenditure, facilitates seamless payment processes for Panchayats through the eGramSwaraj portal.
  • PFMS eGramSwaraj integrated with over 2.63 lakh Panchayats out of 2.78 lakh (Zila, Gram, Block panchayats and Tribal Local Bodies) onboarded for their payment transactions.
  • PFMS operates in a seamless two-way data flow - information from Panchayats (received through PFMS-State treasury systems module) is automatically populated on the eGramSwaraj portal.
  • PFMS notifies interest credited to Panchayats by banks.

 

Government Integrated Financial Management System (GIFMIS) Vertical

  • GIFMIS was developed by PFMS in support of the Digital India Initiative of the Prime Minister.
  • GIFMIS enables end-to-end digital processing of all other types of payees of Government.
  • As part of end of end digitalisation of payments, eBill module was developed under GIFMIS on PFMS platform.
  • e-bill System for Central Government Ministries was launched on 02/03/2022.
  • GIFMIS rolled out in 447 Pay and Accounting units of 52 Ministries/ Departments and 6 UTs without Legislature.
  • Majority of payment units of all Civil Ministries/Departments covered in this Financial Year.

Advantages of Government Integrated Financial Management System (GIFMIS) Vertical:

  • Convenience to vendors/suppliers/contractors in submitting bills/claims without physically approaching the offices
  • Shorter bill payment cycle after delivery of store/services
  • Online tracking of the bill position by vendors/suppliers/contractors
  • More effective audit trails in the payment system
  • Promoting Digital India & reducing carbon footprint by paperless system
  • Effective tool to Government disbursements in pandemic-like situations

 

SINGLE NODAL ACCOUNT - SNA-SPARSH

  • SNA SPARSH has been developed under GIFMIS on the PFMS platform to facilitate 'Just-in-time' releases under Centrally Sponsored Schemes and is currently being piloted.
  • Aims to achieve 'Just-in-time' fund flow from Centre and State Consolidated Funds through an integrated network of State IFMIS and e-kuber of RBI.
  • Facilitates more effective cash management.

Key features:

  • The Union Government's share in fund release based only on incurred actual expenditure followed by a claim against the expenditure.
  • State's account to be pre-funded with Union Government's share before making the payment to the end beneficiary.

Onboarded States: Rajasthan, Karnataka and Odisha

PILOT at advanced stages of implementation, to be rolled out soon: Telangana, Jharkhand, Chhattisgarh, Assam, Gujarat, Bihar, and Andhra Pradesh

SNA SPARSH schemes for Phase 1 pilot roll out: Rashtriya Uchchattar Shiksha Abhiyan (RUSA) and Swachh Bharat Mission (Grameen) (SBM -G)

SNA SPARSH schemes for Phase 2:

  • Pradhan Mantri Ayushman Bharat Health Infrastructure Mission (PM ABHIM)
  • Pradhan Mantri Matsya SampadaYojna (PMMSY)
  • Pradhan Mantri Matru Vandana Yojana
  • Conservation of Natural Resources and Ecosystem are to be onboarded on SNA SPARSH in phase 2.

Initiatives by Central Pension Accounting Office (CPAO)

Authorisation of Pension Cases

  • Total Cases 1,01,788
  • New Pension Payment Orders 50,593
  • Revision Pension Cases 51,195

DIRGHAYU Mobile Application

  • App was launched by Union Minister Dr. Jitendra Singh on 27th Feb, 2023.
  • DIRGHAYU App provides various services viz. Downloading of SSA, Status of Grievances, Details of last 24 Transactions in Pension Account etc.
  • Bilingual app available on Google Play Store iOS version under testing.

Virtual Pension Adalat:

  • Two virtual pension Adalat organised in 2023 for prompt and quick redressal of grievances of Central Government Civil Pensioners

Escalation matrix on the CPAO Dashboard

  • CPAO has developed an escalation matrix to ensure timely resolution of grievances. Status of pending grievances is sent to the senior management of CPAO, authorised banks and ministries/ departments via automated e-mail.
  • The Matrix was made live on 23.10.2023.

SPECIAL FACILITATION

  • A Separate Desk for Paramilitary Pensioners/Family Pensioners for faster grievance resolution established in CPAO.

Finance Commission Grants to States

The 15th Finance Commission (XV-FC) has recommended the grants-in-aid of Rs.1,79,140 crore to the State Governments under the following heads for the year 2023-24:

  • Post Devolution Revenue Deficit Grant
  • Grants to Local Bodies
  • Health Sector grant
  • Disaster Management Grants (SDRMF/NDRMF)

Grants released to State Governments under various components during 2023-24:

S/No.

Components

Grants release during 2023-24   (Rs. in crore)

Upto 6th Dec, 2023

1.

Post Devolution Revenue Deficit Grant

34448.64

2.

Urban Local Bodies Grant

12180.19

3.

Rural Local Bodies Grant

20222.88

4.

Health Sector Grant

2760.69

5.

Central Share of State Disaster Response Fund

10234.00

6.

Central Share of State Disaster Mitigation Fund

2147.60

7.

Release of additional Central assistance from National Disaster Response Fund

250.15

 

Grand Total

82744.15

 

Scheme For Special Assistance To States For Capital Expenditure

  • Aims to boost states in capital expenditure through 50-year interest free loan to States.
  • The Scheme was extended in the financial years 2021-22 and 2022-23.
  • An amount of Rs. 11,830.29 crore, Rs. 14,185.78 crore & Rs. 18,195.35 crore released under the Scheme in 2020-21, 2021-22, and 2022-23.
  • Scheme redesigned and expanded on request from states for FY2023-24.
  • An amount of Rs. 1.30 lakh crore allocated including an amount of Rs. 30,000 crore, as an incentive in eight areas.

Scheme For Special Assistance to States for Capital Investment 2023-24

Part-I (untied)

  • Rs. 1,00,000 crore allocated to States in proportion to their share of central taxes and duties.
  • Capital Expenditure amounting to Rs. 91,471.43 crore has been approved for the States of Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Rajasthan, Sikkim, Tamil Nadu, Telangana, Tripura, Uttar Pradesh, Uttarakhand and West Bengal.
  • Out of which Rs. 57,090.39 crore has been released to eligible States.

Part-II (Incentives for Scrapping of Old Vehicles)

  • Rs. 3,000 crore earmarked for scrapping of State Government vehicles and ambulances older than 15 years.
  • The Scheme incentivises states to:
    • Waive of liabilities on old vehicles
    • Provide tax concessions to individuals for scrapping of old vehicles
    • Set up of automated vehicle testing facilities
  • Capital Expenditure amounting to Rs. 112.50 crore has been approved for the States of Bihar, Chhattisgarh and Punjab.
  • Out of which Rs. 31.25 crore has been released to State of Bihar and Chhattisgarh.

Part-III (Urban Planning Reforms)

  • Rs. 15,000 crore earmarked to promote affordable housing, comprehensive mobility, and conserve Blue-Green infrastructure, for sustainable urbanisation.

Part-IV (Financing Reforms In Urban Local Bodies)

  • Rs. 5,000 crore earmarked to improve creditworthiness of cities (Municipalities / Urban Local Bodies) and making them ready for municipal bonds by incentivising property tax governance reforms and ring-fencing of user charges on urban infrastructure.

Part-V (Housing for Police personnel above or as part of Police Stations in Urban Areas)

  • Rs. 2,000 crore earmarked to increase the housing facility for the police personnel and their families in urban areas thereby saving the time and energy of the police personnel wasted in commuting to reach the place of their duty.
  • Capital Expenditure amounting to Rs. 1,684.80 crore has been approved for the States of Assam, Bihar, Chhattisgarh, Goa, Gujarat, Himachal Pradesh, Karnataka, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tamil Nadu, Telangana and Uttarakhand.
  • Out of which Rs. 820.97 crore has been released to eligible States.

Part-VI (Construction of Unity Malls)

  • Rs. 5,000 crore earmarked to promote national integration.
  • Incentive to carry forward the concept of "Make in India”.
  • Promotes construction of one Unity Mall per State.
  • Capital Expenditure amounting to Rs. 2,945.64 crore has been approved for the States of Assam, Bihar, Chhattisgarh, Goa, Gujarat, Harayana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Nagaland, Odisha, Punjab, Telangana, Tripura and Uttarakhand.
  • Out of which Rs. 1,393.32 crore has been released to these States.

Part-VII (Children and Adolescents’ Libraries & Digital Infrastructure)

  • Rs. 5,000 crore to States for setting up of a physical library with infrastructure for accessing the National Digital Library resources at panchayat and ward level.
  • Capital Expenditure amounting to Rs. 1,942.54 crore has been approved for the States of Assam, Karnataka, Meghalaya and Uttar Pradesh.
  • Out of which Rs. 971.27 crore has been released to these States.

Part-VIII ('Just-In-Time' Release Using RBI'S E-Kuber Model)

  • As on 31st October 2023 capital investment projects of States worth Rs. 96,206.27 crore approved and Rs. 58,494.19 released so far under the Scheme for 2023-24.
  • Under this Part, a State will be eligible for an incentive amount equivalent to 10 percent of the Central share of a Scheme brought under the 'Just-in Time' model through RBI's e-Kuber system.
  • In addition, a State will be eligible for incentive upto Rs. 100 crore if as per SNA reports, more than 95 percent of the releases of the Central share are made by the State Government in 2023-24 to the respective Single Nodal Account (SNA) within the time limit.

Net Borrowing Ceilings (Nbc) For The Year 2023-24

  • Normal Net Borrowing Ceiling for States fixed at 3 percent of Gross State Domestic Product (GSDP), i.e. Rs. 8,59,988 crore, for FY 2023-24 as recommended by Fifteenth Finance Commission [XV-FC].
  • Approval issued for raising Rs. 6,99,016 crore for Open Market Borrowing (OMB) & of Rs. 69,370.81 crore for availing Negotiated Loan during FY2023-24.
  • Further, States allowed extra borrowing ceiling equivalent to employer and employee share of contribution of its employees with actual NSDL/trustee bank as per the guidelines of National Pension Scheme (NPS), over and above the normal net borrowing ceiling of 3% of GSDP, for FY2023-24.
  • Extra borrowing ceiling of Rs. 60,876.80 crore allowed to 22 States in 2023-24 (as on 27.10.2023) for NPS contribution by complying States.

Additional Borrowing Of 0.5% Of GSDP Linked To Performance In Power Sector

  • XV-FC has recommended performance based additional borrowing space of 0.50 percent of Gross State Domestic Product (GSDP) to States in the power sector, over and above the normal net borrowing ceiling.
  • OBJECTIVE 
    • Improves operational and economic efficiency
    • Promotes sustained increase in paid electricity consumption
    • This special dispensation is recommended from 2021-22 to 2024-25
  • FY 2021-22: 12 States permitted Rs. 39,175 crore on basis of stipulated reform criteria
  • FY 2022-23: 6 States allowed of Rs. 27,238 crore
  • FY 2023-24: States eligible for Rs. 143,332 crore (approx), on recommendation of Ministry of Power

S.No.

Name of the State

Amount (Rs. in crore)

2021-22

2022-23

1

Andhra Pradesh

3716

5858

2

Assam

1886

2473

3

Himachal Pradesh

251

-

4

Kerala

4060

4263

5

Manipur

180

-

6

Meghalaya

192

-

7

Odisha

2725

-

8

Rajasthan

5186

6122

9

Sikkim

191

170

10

Tamil Nadu

7054

-

11

Uttar Pradesh

6823

-

12

West Bengal

6911

8352

 

Total

39175

27238

 

Vivad Se Vishwas Scheme

  • Vivad se Vishwas scheme was announced in Union Budget 2023-24

Vivad Se Vishwas I (Relief For MSMEs)

  • Scheme provided relief to MSMEs unable to comply with Central Government contracts due to COVID-19 pandemic.
  • This Scheme was launched on 11th April 2023. Last date for submission of claims was 31.07.2023.
  • As on 01.12.2023, 43,904 claims involving more than Rs. 650 crore by MSMEs settled by the Government.

Vivad Se Vishwas II (Contractual Disputes)

  • This scheme was launched for settling pending public procurement related contractual disputes of Central Government.
  • This Scheme was launched on 29th May, 2023. Last date for submission of claims was 31.10.2023.
  • More than 900 claims worth Rs. 20,000 crore received. Claims worth Rs. 1,652 crore have already been settled and remainder is under examination by the respective Ministries/ Departments/ Organisation.

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Topics

Acts Income Tax