Kancheepuram: Union Finance Minister Nirmala Sitharaman on Thursday emphasised that state governments must channel their borrowed funds into long-term capital expenditure, such as schools and hospitals, rather than relying heavily on revenue expenditure like cash distributions when financial resources are tight.
Addressing the media, Sitharaman underscored that taking loans to create public infrastructure yields a positive economic impact and generates employment for the next 50 to 60 years.
