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Finance ministry suspends All-New Schemes Up To Rs 500 Crore For A Year.

 Finance ministry suspends All-New Schemes Up To Rs 500 Crore For A Year.

New Delhi:  The Finance Ministry announced on Friday that in view of the increasing number of Coronavirus cases, no new schemes will be launched by the government worth upto Rs 500 Crore until March 2021.

All ministries have been told to stop sending requests for new schemes to the finance ministry. The ministry said that the government needs to tighten the spending, therefore, spending will only be allowed in the Prime Minister’s Garib Kalyan Package and the announcements made under the Atmanirbhar Bharat policy recently. No other scheme would be approved this financial year.

“It may be appreciated that in the wake of the COVID-19 pandemic, there is an unprecedented demand on public financial resources and a need to use resources prudently in accordance with emerging and changing priorities,” a finance ministry note said.

Schemes already approved under the Budget will also stay suspended till March 31. The note also said any exception to these new rules would need to be approved by the Department of Expenditure.

India witnessed the highest single-day spike of Coronavirus cases on Friday with cases around 10,000. The number of cases in India has surpassed the 2 lakh 20 thousand mark and the country witnessed 273 deaths in a single day. According to the Union Health Minis

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