States back ‘Viksit Bharat’ in FM meet

A majority of states on Saturday supported the Union government's reform agenda aimed at the goal of “Viksit Bharat” (developed India) by 2047 and urged the Centre to continue the Special Assistance to States for Capital Investment (SASCI) scheme, which offers 50-year interest-free loans for capital expenditure, people aware of the matter said.

- Rajeev Jayaswal

At a pre-budget meeting, Union finance minister Nirmala Sitharaman underscored states’ role in strengthening cooperative federalism and implementing the government's reform agenda, they added, requesting anonymity. States described the SASCI scheme as an effective reform tool, the people said.

The Centre has previously indicated strong support for the initiative. Replying to a debate in Parliament recently, Sitharaman noted that the Modi government continued the SASCI scheme to incentivise reforms despite the lack of a specific recommendation to the effect from the Finance Commission.