On March 27, of the current fiscal year, the government of Dr. Mohan Yadav will once more borrow Rs. 5,000 crore in three distinct ways. We'll pay it back in 20, 21, and 22 years. With this added, the total amount borrowed since January will come to Rs 20500 crore.
A notification on new loans has also been released by the Finance Department. The government plans to use this enormous loan to fund several development projects, such as the Mukhyamantri Ladli Brahmin Yojana, which will pay employees and retirees a 4 percent dearness allowance. In addition, the money borrowed will be utilized to fund additional projects and building projects.
A loan of Rs 42,500 crore for a single year
Following the borrowing of Rs 5,000 crore on March 27, the state government will borrow a total of Rs 42 thousand crore in the current fiscal year. The government had already borrowed up to Rs 37500 crore prior to February 29. The Mohan government, which was borrowing money, declared during the previous cabinet that there were no issues and that the state's finances were in excellent shape. The government only borrows money when necessary to carry out public welfare initiatives and infrastructure development, and it does so solely in accordance with RBI norms.
three loans taken out in February
The Mohan Yadav administration borrowed money three times in February. This Rs 5,000 crore loan was obtained in three distinct ways on February 27, a mere month before it was taken out in March.
The loan of Rs 2000–2000 crore and Rs 1000 crore was taken out on February 27.
Prior to this, loans were obtained on February 6 and February 20 to cover the costs incurred by the government.
On February 20, the government also obtained a loan of Rs 5,000 crore. This loan was obtained via three distinct procedures.
On February 6, 2024, the government took out separate loans totaling Rs. 1500–1500 crore.
The government borrowed thirteen thousand crores of rupees in February.
On January 23, the government had obtained a loan of Rs 2500 crore.
During the first two months of 2024, January and February, a total of Rs 15,500 crore was borrowed.
