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2023-12-19 09:37:07
The Indian government has allowed 22 states to borrow more than Rs 60,000 crore additionally in fiscal 2024, over and above their net borrowing ceiling, the finance ministry said on Tuesday on the social media platform X.
The move, which will allow the states to issue more bonds, was contingent on their contribution to the country’s pension system for the state government employees.
An additional borrowing ceiling of Rs 60,880 crore is allowed to 22 states in the current financial year that ends on March 31, 2024, for participating in the National Pension Scheme (NPS), the ministry said.
The present net borrowing ceiling for states is fixed at Rs 8.6 lakh crore.
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