Plea to raise borrowing limit to 3.5% of GSDP

KCR urges Jaitley to issue instructions

Chief Minister K. Chandrasekhar Rao has urged the Union Finance Ministry to raise the annual borrowing limit for the current financial year in line with the recommendations made by the XIV Finance Commission.

The Chief Minister, who is camping in New Delhi, called on Union Finance Minister Arun Jaitley and requested him to issue instructions in this regard at the earliest. The Central Government had allowed the State to raise market borrowings to the tune of 3% of the GSDP. The State wanted the limit to be raised to 3.5% as there was a significant jump in the expenditure commitment on account of flagship programmes like irrigation and provision of drinking water to every household across the State. “All these works reached an advance stage and are about to give benefit to a large number of people in the State,” the Chief Minister said.

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Printable version | May 30, 2020 3:01:24 PM | https://www.thehindu.com/news/cities/Hyderabad/plea-to-raise-borrowing-limit-to-35-of-gsdp/article24786747.ece

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