9 States Unlock Additional Borrowing Limit Of ₹23,523 Crores
On Wednesday, the finance ministry said in a statement that 9 states of India have unlocked the additional borrowing limit of ₹23,532 crores by completing public distribution system (PDS) reforms and implementing the One Nation One Ration Card System (ONORCS).
These 9 states include- Kerala, Goa, Andhra Pradesh, Telangana, Tripura, Karnataka, Haryana, Gujarat and Uttar Pradesh.
Uttar Pradesh has opted for the highest borrowing limit of ₹4851 crores followed by Karnataka’s limit of ₹4509 crores and Gujarat’s ₹4352 crores.
In May, the government had allowed states to borrow an additional 2% of gross state domestic product (GSDP).
The amount will be used by the states to meet COVID-19 related expenses.