Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
  
LIVE TV DownloadNews18 App
News18 English
News18 » Politics
1-min read

Cash-Strapped Kamal Nath Govt Set to Borrow Rs 1,000 Cr, 15th Loan Since Taking Charge in Dec 2019

In face of criticism from the opposition, government officials tried to justify the fresh loan saying liquidity was important to keep developmental and public welfare works afloat.

Sharad Srivastava | News18

Updated:November 5, 2019, 10:38 PM IST
facebookTwitter Pocket whatsapp
Cash-Strapped Kamal Nath Govt Set to Borrow Rs 1,000 Cr, 15th Loan Since Taking Charge in Dec 2019
File photo of Madhya Pradesh Chief Minister Kamal Nath.

Bhopal In a bid to meet the state’s financial needs, the Madhya Pradesh government is set to secure a loan worth Rs 1,000 crore for a period of 10 years.

The government is already reeling under a debt of Rs 1.75 lakh crore. Ever since it took charge in December last year, the Congress government, led by Kamal Nath, has taken 15 loans with the last one worth Rs 2,000 crore being secured as recent as September 4.

In face of criticism from the opposition, government officials tried to justify the fresh loan saying liquidity was important to keep developmental and public welfare works afloat.

Recently, the government had levied 5% value added tax (VAT) on petrol and diesel to generate additional funds in the wake of the massive floods that have caused massive damage across the state. At the time, it had promised the measure wasn’t permanent.

Among other obligations, farm loan waiver, repair of roads and wheat bonus to farmers have excessively stretched the state’s finances and have forced the government to take frequent loans.

Nath and his ministers have continued to claim that the previous BJP dispensation, led by Shivraj Singh Chouhan, had left behind an empty coffer.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results