Kerala joins the league of the states completing ease of doing business reform

Headlines

Kerala has achieved the distinction of becoming eighth state in the country to undertake “Ease of Doing Business” reform successfully. Thus, the State has become eligible to mobilise additional financial resources of Rs.2,373 crore through Open Market Borrowings.
These eight States will now be granted additional borrowing permission of Rs.23,149 crore. The other seven states which have completed ease of business reform include Karnataka, Andhra Pradesh, Odisha, Madhya Pradesh, Tamil Nadu, Telangana and Rajasthan. Now Kerala has also joined this league and all these eight states have been allowed additional Rs 23, 149 crore borrowing permission.
As an important indicator of an investment friendly business scenario, ease of doing business stipulated by Department of Expenditure, Ministry of Finance, will enable faster growth of the state economy in future. The government of India has linked the grant of the permission of additional borrowing to the states which undertake reforms towards ease of doing business.
The Government of India had in view of the resource requirement for meeting the challenges thrown by COVID-19 pandemic, enhanced the states’ limit of borrowing by 2 per cent of their GSDP.
There are four citizen centric reforms areas have been identified include One Nation One Ration Card System implementation, besides Ease of Doing Business reform, Power Sector reform and reforms in urban Local body/ utility.

Leave a Reply

Your email address will not be published.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