VGF scheme, Private Companies Will Get Government Support

VGF scheme, now private companies will get government support in construction of schools, hospitals.

Under the Infrastructure Viability Gap Funding (VGF) scheme, now the government will also get financial help for the construction of social infrastructure.

Under the Public-Private Partnership (PPP), private companies will get 30 percent of the total cost of the project from the central government as financial assistance for the construction of schools, hospitals.

The state government will give 30 percent amount. The remaining 40 percent of the cost will be borne by private companies themselves.

This rule will also apply to the development of infrastructure related to water and waste management.

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved the Infrastructure VGF Scheme for the year 2024-25.

A provision of Rs 8100 crore has been made under this. Out of these, 6000 crores will be spent on economic infrastructure, while 2100 crores has been kept for social infrastructure.

Infrastructure Social infrastructure has been included for the first time under the VGF scheme.

The VGF scheme for economic infrastructure is already in operation. In the last financial year 2019-20, Rs 4375 crore was paid under the VGF scheme.

In the current financial year, a provision of 1400 crores has been made under VGF in 2020-21. Of this, 1000 crores has been set aside for economic infrastructure and 400 crores for social infrastructure.

According to the Finance Ministry, the inclusion of social infrastructure in the VGF will lead private companies to build new hospitals, schools. This will lead to private investment in the social sector and will also increase employment.

At the same time, the continuation of the VGF scheme for economic infrastructure will create new wealth in the infrastructure sector and will attract new investments.

Good news for bank employees, 15% increase in salary

There is great news for Bank Employees. Millions of bank employees of the country have received a big deal before Diwali. The salary of bank employees will increase by 15 percent.

Bank employees will start getting the benefit of Salary Hike from November itself. That is, the bank employees will receive a salary increase for the month of November.

The Indian Banks’ Association (IBA) said that the 11th bilateral wage increase talks with employee unions and officer unions have concluded.