October 14, 2020 9:52 PM

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Tamil Nadu gets Centre's nod to borrow Rs 9,627 crore through open market

Ministry of Finance has granted permission to Tamil Nadu to raise an additional amount of Rs. 9,627 crore through open market borrowings.<br />'' <br />''The permission was issued after the State formally communicated its acceptance for Option-1 to meet the shortfall arising out of GST implementation.<br />'' <br />''21 States and Union Territories of  Delhi and Jammu and  Kashmir, have so far requested Option-1.<br />'' <br />''On Tuesday, the Department of Expenditure had issued permission to 20 States to raise an additional amount of Rs. 68,825 crore through open market borrowings.<br />'' <br />''Ministry of Finance in a statement said, with today's permission, 21 States have been granted permission to mobilize Rs. 78,542 crore so far.<br />''The borrowing permission issued to the 21 States is over and above the borrowing permission of around Rs. 1.10 lakh crore to be issued to enable the States to meet the revenue shortfall arising out of GST implementation.<br />'' <br />''A special window is also being created by the Ministry of Finance to facilitate this borrowing.<br />'' <br />''<span style="color: #222222;">The 21  States which were granted the permission on Tuesday 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.</span><br />

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