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Loan limit hiked for AP amid successful implementation of centre's reforms
Y. S. Jaganmohan Reddy and Yogi Adityanath
The Central Finance Ministry has allowed the two states Uttar Pradesh and Andhra Pradesh to take additional loans for their successful implementation of reforms in the Public Distribution System (PDS) and Ease of Doing Business.
The Central Finance Ministry has allowed the two states Uttar Pradesh and Andhra Pradesh to take additional loans for their successful implementation of reforms in the Public Distribution System (PDS) and Ease of Doing Business. This would give the two states an additional Rs 7,106 crore loan. UP is the 6th state to complete the reform process in PDS to implement the One Nation One ration card system. With this, the state is eligible to raise Rs 4,851 crore through Open Market Borrowings (OMB), which will help the entire state in mobilizing the additional financial resources needed to fight COVID-19.
The One Nation One Ration Card policy ensures the availability of rations to beneficiaries under the National Food Security Act (NFSA) and other welfare schemes, especially for migrant workers who not only take rations anywhere but also for the elimination of bogus / duplicate / ineligible cardholders. The finance ministry said in a statement on Friday that it would increase welfare.
The Food and Public Distribution Department has confirmed that UP, Andhra Pradesh, Telangana, Goa, Karnataka and Tripura have successfully implemented reforms in the PDS and implemented the One Nation One ration card system. Andhra Pradesh has become the number one state in the world in terms of successful Ease of Doing Business reforms, with an additional Rs 2,525 crore coming through open market lending.
The Easy of Doing Business is an important indicator of an investment-friendly business environment in the country. The state economy will grow faster as the ease of doing business improves. Therefore, in order to promote district-level implementation and licensing reforms to facilitate business, states were allowed to borrow an additional 0.25 per cent of GSDP on the recommendation of the Department of Industry and Internal Trade Promotion (DPIIT).
