Telangana seeks more borrowing room from NITI Aayog

The Telangana government today urged the NITI Aayog to relax Fiscal Responsibility and Budget Management (FRBM) by increasing the borrowing limit up to 3.5 per cent from the present 3 per cent on Gross State Domestic Product (GSDP).

According to a press release issued by the CM’s office, Chief Minister K Chandrashekar Rao also requested Vice Chairman of NITI Aayog Arvind Panagariya to support the backward districts of the state as promised in the AP Reorganisation Act.

“Panagariya has positively responded to the requests made by the CM,” it said adding that the team appreciated the developmental works and schemes being implemented by the state government.

The NITI Aayog team has visited some villages in the state before meeting the CM, it said.

Rao also requested NITI Aayog to take up the responsibility of providing funds to state governments for implementing welfare and developmental schemes and collect them with interest for which the state Governments are willing to pay, the release added.

Source: PTI

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