Centre grants permission to 20 States to raise additional amount of over Rs 68,000 cr through open market borrowings

Centre grants permission to 20 States to raise additional amount of over Rs 68,000 cr through open market borrowings.

Ministry of Finance said, additional borrowing permission has been granted at 0.50 per cent of the Gross State Domestic Product, GSDP to those States who have opted for OptiThe facilities available to the States who choose Option-1 include, a special borrowing window, coordinated
by the Ministry of Finance to borrow the amount of shortfall in revenue through issue of debt. The total shortfall in the revenue of the States on this account has been estimated at around 1.1 lakh crore rupees. Permission to borrow the final installment of 0.5 per cent of GSDP out of the 2 per cent additional borrowings permitted by the Government of India in view of the COVID pandemic, waiving the reforms condition.

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