Ease of Doing Business: Govt permits these 5 states for additional market borrowing of Rs 16,728 cr financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
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.
5 States permitted to borrow additional Rs 16,700 crore
December 20, 2020
Andhra Pradesh, Karnataka, Madhya Pradesh, Tamil Nadu and Telangana completed stipulated reforms
The Centre, on Sunday, granted permission for additional borrowing of over ₹16,700 crore to 5 States on account of completing stipulated citizen centric reforms. These States are Andhra Pradesh, Karnataka, Madhya Pradesh, Tamil Nadu and Telangana.
In view of the resource requirement to meet the challenges posed by the Covid-19 pandemic, the Government of India had on May 17 enhanced the borrowing limit of the States by 2 per cent of their GSDP (Gross State Domestic Products).
Half of this special dispensation was linked to undertaking citizen centric reforms by the States. The four citizen centric areas for reforms identified were - Implementation of ‘One Nation. One Ration Card’ system, ‘Ease of doing business’ reform, Urban Local body/utility reforms and Power Sector reforms.
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.
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