Four more states get additional borrowing permission of over Rs 5000 crore for ease of doing business reforms

The government today said that four more states Assam, Haryana, Himachal Pradesh and Punjab have been granted permission to raise additional Rs 5,034 crore 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.

Ministry of Finance in a tweet today said "White heavy check mark Four more States complete ease of doing business reforms; Get additional borrowing permission of Rs. 5,034 crore. White heavy checkmark these four States are Assam, Haryana, Himachal Pradesh and Punjab."

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 Rs 28,183 crore.

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.