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TMI BlogTamil Nadu goes for Option-1, gets permission to borrow an additional amount of 9,627 croreX X X X Extracts X X X X X X X X Extracts X X X X ..... Tamil Nadu goes for Option-1, gets permission to borrow an additional amount of 9,627 crore X X X X Extracts X X X X X X X X Extracts X X X X ..... penditure, Ministry of Finance, has today granted permission to Tamil Nadu to raise an additional amount of ₹ 9,627 crore through open market borrowings. The permission was issued after the State formally communicated its acceptance for Option-1 to meet the shortfall arising out of GST implementation. 21 States and 2 Union Territories, Delhi and Jammu & Kashmir, have so far requested Option- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Yesterday, the Department of Expenditure had issued permission to 20 States to raise an additional amount of ₹ 68,825 crore through open market borrowings. With today's permission, 21 States have been granted permission to mobilize ₹ 78,542 crore so far. The borrowing permission issued to the 21 States is over and above the borrowing permission of around ₹ 1.10 lakh crore to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be issued to enable the States to meet the revenue shortfall arising out of GST implementation. A special window is being created by the Ministry of Finance to facilitate this borrowing. The current additional borrowing permission has been granted @ 0.50% of the Gross State Domestic Product (GSDP) to those States who have opted for Option-1 out of the two options suggested by the Ministry of Fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance. Under the terms of Option-1, besides getting the facility of a special window for borrowings to meet the shortfall arising out of GST implementation, States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of GSDP out of the 2% additional borrowings permitted by the Government of India, under Atmanirbhar Abhiyaan on 17th May, 2020. This is over and ab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ove the Special Window of ₹ 1.1 lakh crore.
Twenty States who were granted the permission yesterday were - 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. X X X X Extracts X X X X X X X X Extracts X X X X
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