Four more states get additional borrowing permission of over five thousand crore rupees for ease of doing business reforms

New Delhi, February 06 :

Government today said that four more states Assam, Haryana, Himachal Pradesh and Punjab have been granted permission to raise additional five thousand 34 crore rupees through Open Market Borrowings. The Finance Ministry said, these states have undertaken Ease of Doing Business reforms stipulated by the Department of Expenditure and have become eligible to mobilise additional financial resources.

The Ministry said, the total number of States which have undertaken the stipulated reforms to facilitate ease of doing business has gone up to 12. Earlier, Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana had reported completion of this reform, which was confirmed by the Department for Promotion of Industry and Internal Trade. On completion of reforms facilitating ease of doing business, these twelve States have been granted additional borrowing permission of 28 thousand 183 crore rupees.

The ease of doing business is an important indicator of the investment friendly business climate in the country. Improvements in the ease of doing business will enable faster future growth of the state economy. In May last year, the government had decided to link grant of additional borrowing permissions to States who undertake the reforms to facilitate ease of doing business.