STATE

Andhra Pradesh gets Centre’s nod to borrow Rs 2,600 crore

By Express News Service

VIJAYAWADA: In what could be some sort of respite to the cash-strapped Andhra Pradesh, the Department of Expenditure has granted permission to borrow an additional amount of Rs 2,655 crore as an incentive for achieving the target set by the Ministry of Finance for the capital expenditure in the first quarter of 2021-22.

AP is one among the eleven States granted permission by the Department of Expenditure to borrow an additional amount of Rs 15,721 crore.The Rs 2,655 crore additional open market borrowing permission granted is equivalent to 0.25 per cent of AP’s  GSDP. The States achieved at least 15 per cent of the target set for 2021-22 by the end of first quarter of 2021-22 become eligible for incremental borrowing.

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