Madhya Pradesh Government To Borrow ₹3,000 Crore In Three Equal Instalments Of ₹1,000 Crore
· Free Press Journal
Bhopal (Madhya Pradesh): The state government is going to take another loan of Rs 3,000 crore. This loan will be taken in three equal instalments of Rs 1,000 crore.
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The government said that the Reserve Bank of India (RBI) sanctioned the loan at the lowest interest rate during the auction.
Deputy chief minister and finance minister Jagdish Devda described the decision to take a fresh loan as a far-sighted move in terms of the state's economy.
NGT Raps Bhopal Authorities For ‘Passing The Buck’ Over Shahpura Lake EncroachmentsHe made it clear that the loan sum will not be used for distribution of salary and allowances, administrative expenditure, pension, Ladli Behana Scheme, etc.
Rather, it will be used for creating capital assets.
The capital expenditure will create new job opportunities and boost commercial activities.
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