Centre allows 20 States to raise over Rs 68,000 crore

Prime News, National, Karnataka, Finance, New Delhi, October 14:- The Department of Expenditure in the Ministry of Finance on Tuesday  (October 13) granted permission to 20 States to raise an additional amount of Rs 68,825 crore through open market borrowings.

The Ministry of Finance said the additional borrowing permission has been granted at 0.50 per cent of the Gross State Domestic Product (GSDP) to those States which have opted for Option- 1 out of the two options suggested by the ministry to meet the shortfall arising out of GST implementation.

In the meeting of GST Council held on August 27 this year, these two options were put forward and were subsequently communicated to the states on August 29.  Twenty states have given their preferences for Option-1.  These states are – Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Sikkim, Tripura, Uttar Pradesh and Uttarakhand. Eight states are yet to exercise an option. (Inputs: Agencies, NGB)

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