The Centre’s capex loan disbursement to states may reach around Rs 90,000 crore or nearly two-thirds of the FY25 target of Rs 1.5 lakh crore by December, as it accelerates the pace of releases to make up for the delay in rolling out tied loans. Of the Rs 1.5 trillion grant-like loans earmarked for FY25, Rs 95,000 crore or two-thirds, is linked to reforms and other criteria specified by the Centre for States including capex, efforts to stimulate industrial growth, assistance for completion of major infra projects, urban and rural land reforms, etc. The balance of Rs 55,000 crore is untied advances to states for projects identified by them.