• TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
Wednesday, July 9, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

‘No restrictions on utilisation of additional borrowing by states’

Press Trust of india by Press Trust of india
May 22, 2020
in BUSINESS
A A
0
Govt announces Rs 3 lakh cr collateral-free loans for small business; liquidity for NBFCs
FacebookTwitterWhatsapp

New Delhi: The Centre has not imposed any restrictions on states for utilisation of additional borrowing of 2 per cent and they are free to spend as per their requirements, a senior Finance Ministry official has said.

It is to be noted that the basic limit of 3 per cent remains unconditional, while only additional one per cent out of the two is linked to citizen centric reforms, the official said.

Related posts

Sweeping Trump tariffs draw dismay, calls for talks from countries around globe

US close to making trade deal with India: Trump

July 8, 2025

101 Indian students get Erasmus+ scholarships for higher education in Europe

July 8, 2025

Finance Minister Nirmala Sitharaman while announcing this on Sunday had said that an increase in borrowing limits will be subject to states taking citizen centric reforms, which are aimed at improving quality of service delivery to the public.

In order to help states to enhance their resource base in times of the COVID-19 crisis, the central government allowed them to go in for additional borrowing of 2 per cent, over and above the regular limit of 3 per cent of the GSDP, subject to certain conditions.

“…the basic limit of 3 per cent remains unconditional. Out of the additional borrowing of 2 per cent of GSDP, 0.50 per cent is untied and 1 per cent is subject to undertaking certain reforms by the state governments (0.25 per cent for each reform). Further, additional 0.50 per cent is allowed on undertaking at least any 3 suggested reforms,” the official said.

It may be noted that, while the eligibility for part of the additional borrowing is conditional, its utilisation is fully untied. The reforms suggested by the central government are citizen centric and aims at increasing the quality of service delivery to the public, the official added.

These reforms are — implementation of one nation one ration card system; district level and licensing reforms for ease of doing business; strengthening local bodies; and power sector reforms.

The additional borrowing will provide states extra resources of Rs 4.28 lakh crore to deal with COVID-19 crisis.

States’ net borrowing ceiling for 2020-21 is Rs 6.41 lakh crore (3 per cent of gross state domestic product).

 

Previous Post

FinMin sanctions Rs 92,077 cr to states as devolution of central taxes

Next Post

COVID19 stress and endocrine health

Press Trust of india

Press Trust of india

Next Post
New AI tool to predict COVID-19 without testing: Study

COVID19 stress and endocrine health

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: [email protected]

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.