Madhya Pradesh Government To Borrow ₹3,000 Crore In Three Equal Instalments Of ₹1,000 Crore
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. 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…
The Madhya Pradesh government has announced plans to borrow ₹3,000 crore in three equal instalments of ₹1,000 crore. The Reserve Bank of India (RBI) approved the loan at the most favorable interest rate through an auction process. Deputy Chief Minister and Finance Minister Jagdish Devda emphasized that this decision was a forward-thinking measure for the state's economy.
He clarified that the loan funds will not be utilized for salaries, allowances, administrative costs, pensions, the Ladli Behana Scheme, or any other such expenditures. Instead, the government intends to allocate the borrowed amount towards the creation of capital assets. These investments are projected to generate new employment opportunities and stimulate commercial activities.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
