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The Shivraj government is taking a loan of Rs 1,000 crore from the open market for the 18th time in a period of 10 months

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The financial backbone of the Corona state is broken. During this period, revenue collection suffered due to stagnant economic activity. Revenue has increased by 10 to 12% per annum, but the state has received about Rs 7,000 crore less revenue in the current financial year. Similarly, the state has received less than GST900 crore in GST from the Center.

The state government is going to take Rs 1,000 crore from the open market in the new year in the face of financial crisis due to corona infection. This is the eighteenth time after the ten-month term of the government, when the government has to take loans for development work. Now, two months later, when the civil society elections are underway in Madhya Pradesh, the government will use it to expedite the stalled work.

At the same time the government may start some big urban projects just before the election. Also, the central government has said that this amount should be used for the implementation of the One Nation-One Ration Card project in addition to the reforms related to municipal corporations.

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The Shivraj government has taken Rs 17,500 crore in its 10-month tenure. Earlier, on December 20, a loan of Tk 2,000 crore was taken from the open market. Thus, the total debt burden on the Madhya Pradesh government is Rs. 280,000 crore. Nevertheless, the government may borrow Rs 1373 crore by 2021.

The finance department has issued a notification to take a loan of Tk 1,000 crore. Ministry sources said that a month ago, the central government was allowed to take an additional loan of Rs 2,333 crore from the open market. The Center has given a big relief to the Shivraj government by giving this permission just before the municipal elections.

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