5 States completed stipulated reforms in Ease of Doing Business ANI | Updated: Dec 20, 2020 12:11 IST
New Delhi [India], December 20 (ANI): Linking the grant of additional borrowing permissions by the Government of India (GoI) to the States to reforms in various citizen-centric sectors has motivated the States to undertake reforms to promote Ease of Doing Business, according to the Ministry of Finance.
Five states have so far completed the stipulated reforms in the Ease of Doing Business. These States have been granted permission to mobilize additional financial resources to the tune of Rs 16,728 crore through open market borrowings, according to an official release.
Updated Dec 20, 2020 | 15:23 IST
Five states have been granted permission to mobilize additional financial resources to the tune of Rs 16,728 crore through open market borrowings after successful completion of Ease of Doing business reforms 5 states cleared for Rs 16,700 cr additional borrowing for implementing Ease of Doing business reforms | Photo Credit: BCCL
New Delhi: Various states are making use of the central government’s plan to link the granting of permission for additional borrowing to implementing various ‘citizen-centric’ reforms.
The Ministry of Finance in a statement on Friday said states have so far completed the stipulated reforms in the Ease of Doing Business.
Five States Have Undertaken Stipulated Reforms In Ease of Doing Business Five States Have Undertaken Stipulated Reforms In Ease of Doing Business These states have been granted permission to mobilize additional financial resources to the tune of Rs 16,728 crore through open market borrowings, according to an official release.
FinMin extends deadline to implement reform-linked benefits till Feb 15
States to get additional borrowing permission on completion of reforms; they will also get additional financial assistance for capital expenditure
BusinessToday.In | December 20, 2020 | Updated 15:39 IST
Union finance minister Nirmala Sitharaman
The finance ministry has extended the deadline for states to complete citizen-centric reforms in various sectors to February 15 from December 31 earlier. Now the states will be eligible for reform linked benefits if the finance ministry receives a recommendation from the nodal ministry concerned about the implementation of the reform by February 15, 2021.
The Centre has identified four critical areas for reforms by the states, including one nation one ration card system, ease of doing business reform, urban local body/utility reforms and power sector reforms.
Synopsis
So far, 11 states have implemented at least one of the reforms, making them eligible for a portion of the additional borrowing limit of 2% of gross state domestic product (GSDP). “Extension of the date for completion of reforms is likely to motivate other States also to complete the reform process expeditiously and avail the linked financial benefits,” the ministry said.
PTI
The finance ministry has extended till February 15, 2021, the deadline for states to implement the ‘citizen-centric’ reforms in order to avail the additional borrowing limit granted by the Centre in May, according to an official statement on Wednesday.
The earlier deadline fell on December 31, this year.