Business News
Home > Business News
Finance Ministry allows states to borrow additional Rs 60,877 crore for pension scheme
TIWN
TIWN
PHOTO : TIWN
New Delhi, Dec 19 : The Finance Ministry on Tuesday approved an additional borrowing of Rs 60,876.8 crore to 22 States in 2023-24 for contribution to the National Pension Scheme (NPS).
This will be over and above the net borrowing ceiling for 2023-24. The normal ceiling for net borrowing by states has been fixed at 3 per cent of their gross state domestic product (GSDP). The GSDP currently stands at Rs 8.59 lakh crore. The ministry also issued approval for raising Rs 6.99 lakh crore for open market borrowing and Rs 69,370.81 crore for availing of negotiated loans during 2023-24.
Add your Comment
Comments (0)
More Business News
- SAIL posts Rs 834 crore net profit for July-September quarter
- Vehicle sales surge 32 pc on back of festive discounts, high rural incomes
- Sensex and Nifty down 1 pc in early trade amid heavy selling
- Apple iPhone 15 becomes best-selling smartphone globally in Q3 2024
- SC orders liquidation of Jet Airways