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Central Government decides to simplify the consent mechanism for Open Market Borrowings (OMBs) under Article 293(3) of the Constitution of India for raising OMBs by the States

News and Press Release - Dated:- 19-8-2016 - In the spirit of Co-operative federalism and in order to bring-in the transparency and predictability in the Open Market Borrowings (OMBs) by the States, the Central Government has decided to simplify the .....

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er the formula prescribed by the Fourteenth Finance Commission (FFC). The simplified mechanism would, however, allow the States to prepare their borrowing calendar for the first nine months and seek one-time consent for raising OMBs during the first .....

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