Jammu and Kashmir Chief Minister Reviews Progress of Capital Investment Scheme
Chief Minister Omar Abdullah assesses the progress of the SASCI scheme, focusing on infrastructure recovery and disaster management in Jammu and Kashmir.
Jammu, November 10 (Daily Kiran) : Jammu and Kashmir Chief Minister Omar Abdullah conducted a review on Tuesday of the ongoing projects under the Special Assistance to States for Capital Investment (SASCI) scheme. The meeting focused on the physical and financial progress in key sectors, including public works, water resources, youth services and sports, power development, and housing and urban development.
Particular attention was given to the restoration of infrastructure damaged by natural disasters and enhancing disaster risk reduction capabilities. Abdullah directed officials to ensure that the ongoing projects under SASCI are completed within the stipulated deadlines to meet the financial targets of the scheme. He also urged for a swift acceleration of disaster management initiatives to strengthen the state’s capacity to handle emergencies.
The Chief Minister emphasized the need to identify new projects promptly to finalize the SASCI plan for the year 2027-28 and develop a robust project list. He stressed the importance of maximizing the utilization of available funds in Jammu and Kashmir and ensuring the construction of sustainable infrastructure through improved coordination among departments and strict adherence to timelines.
SASCI is a significant initiative by the Government of India’s Ministry of Finance, providing interest-free loan assistance to states for infrastructure development and capital expenditure over a 50-year period. Launched during the fiscal year 2020-21 amid the COVID-19 pandemic, the scheme aims to counteract the sharp decline in public investment. Its scope has expanded significantly in subsequent years, with over ₹1.5 lakh crore allocated in recent financial periods.
Under this scheme, the central government offers interest-free loans to states for a duration of 50 years, alleviating immediate repayment burdens. Investments made in assets such as roads, bridges, and digital systems are believed to contribute approximately ₹3 to the economy for every ₹1 spent.
The funds provided under the scheme are distributed in several tranches. Some amounts are granted unconditionally, while others are linked to conditions that promote reforms within states.
