Twelve Indian states granted additional borrowing permission on completion of Ease of Doing Business reforms
Total twelve states have reportedly completed ease of doing business reforms and have now become eligible for mobilising additional financial resources and raising additional financing to the tune of Rs 5,034 crore from open market borrowings. These reforms have been stipulated by the department of expenditure of Ministry of Finance.
These states include Himachal Pradesh, Assam, Punjab, Haryana, Madhya Pradesh, Andhra Pradesh, Odisha, Karnataka, Rajasthan, Kerala, Telangana and Tamil Nadu. All these have now have permission of borrowing from Rs 28, 183 crore designated fund.
Considered as an important indicator of business climate friendly to the investors, it will enable these states to gain rapid growth in their economy through the grant of additional borrowing permissions from this fund. The Government has linked the additional grant of borrowing permissions with ease of doing business reforms.
