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The Hindu

National

The Hindu Bureau

Kerala seeks nod for 1% ‘ad hoc borrowing’ in 2023-24

K N Balagopal Kerala GSDP GST Deficit Finance

The State government has urged the Centre to allow it an ‘‘ad hoc borrowing increase’‘ of 1% of the GSDP above the ceiling set for the 2023-24 fiscal in view of the resource loss suffered by the State.

Finance Minister K. N. Balagopal conveyed the State’s requirement to Union Finance Minister Nirmala Sitharaman at a meeting in New Delhi on Wednesday. Mr. Balagopal has also asked the Centre to urgently release money due to the State under various grants, schemes and pending arrears.

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