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Finance Ministry permits 5 States to borrow extra ₹16,728 crore
The Finance Ministry on Sunday said five States, including Tamil Nadu and Telangana, have been permitted to borrow an additional ₹16,728 crore following completion of stipulated reforms for ‘Ease of Doing Business’.
Andhra Pradesh, Karnataka and Madhya Pradesh are the other States which have been permitted to borrow the extra amount.
The government had in May decided to link grant of additional borrowing permission to States with reforms undertaken by them to facilitate ease of doing business.
The reforms stipulated in the category include completion of first assessment of ‘District Level Business Reform Action Plan’.
Besides, elimination of requirements of renewal of registration certificates/approvals/licences obtained by businesses for various activities, at least under certain Acts specified by the Centre, was also part of the reforms.