Tamil Nadu, 20 other states to borrow additional Rs 78,452 crore to meet revenue shortfall

On Wednesday  the government allowed Tamil Nadu to raise an additional Rs 9,627 crore through open market borrowings to bridge the revenue shortfall caused by the COVID-19 pandemic, a day after granting permission to 20 states for mobilising Rs 68,825 crore,These 21 states will cumulatively borrow an additional amount of Rs 78,452 crore. An official statement said that “The borrowing permission issued to the 21 states is over and above the borrowing permission of around Rs 1.10 lakh crore to be issued to enable states to meet the revenue shortfall arising out of GST implementation.

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