Bhopal: The Shivraj Singh Chouhan government has again taken a loan of Rs 2,000 crore this week, reports said on Friday. Meanwhile, the BJP government has taken a loan of Rs 16,500 crore loan in the since it came to power amid the raging Coronavirus crisis so far.
According to reports, the government has taken a loan almost every month. The loan amount will be repaid by 2040 and repayment will be done twice a year, in May and November. This instalment is according to the monthly schedule of Government of India norms.
According to the data of March 2020, the state government has taken loans 16 times in the current financial year. More than Rs two lakh 11 thousand 89 crores has been owed to Madhya Pradesh.
On June 2020, a presentation of an action plan of two per cent additional borrowing limit was given in front of Chief Minister Shivraj Singh Chauhan in the ministry.
Madhya Pradesh will be able to avail an additional loan of Rs 4 thousand 746 crores after the central government allows unconditional loan of up to 0.5 per cent (untitled). Chief Minister Shivraj Singh Chauhan said that Madhya Pradesh will be able to take an additional loan of 1.5 per cent ie Rs 14,237 crore of the state GDP on four reforms set by the Center.
According to the Central Government's Fiscal Responsibility and Budget Management (FRBM), the borrowing limit of Madhya Pradesh has been increased from three per cent to five per cent of the state gross domestic product.
Due to which the state will be able to take an additional loan of Rs 18 thousand 983 crore. The borrowing limit was raised by the central government on the demand of other state governments, including Madhya Pradesh.
Madhya Pradesh government struggling with financial crisis
- Rs 1000 crore for 20 years on 12 November
- Rs 2000 crore on 20 November for 20 years
- Rs 1000 crore for 20 years on 29 October
- Rs 1000 crore for 20 years on 15 October
- Rs 1000 crore for 20 years on 8 October
- Rs 1000 crore on 3 October for 12 years
- Rs 1000 crore on 15 September for 13 years
- Rs 1000 crore on 5 September for 13 years
- Rs 1000 crore on 7 August for 15 years
- Rs 1000 crore on 3 July for 15 years
- Rs 1000 crore on 13 July for 15 years
- Rs 1000 crore on 8 July for 15 years
- Rs 500 million on 6 June for 10 years
- Rs 500 million on 30 May for 10 years
- Rs 500 million on 1 April for two and a half years
Taken Money From
- Market - Rs 115532 Crore
- Financial Institutions - Rs 10766.58 Crore
- Central Government - Rs 20938.81 Crore
- Other Liabilities - Rs 20909.81 Crore
- Special Security- Rs 26481.30 Crore
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