Second time within fifteen days Chhattisgarh government had to take loan of thousands of crores

Chhattisgarh: Chhattisgarh Government again took a loan of thousand crores on Tuesday for the second time within fifteen days. The government took this loan through Reserve Bank of India (RBI) in lieu of securities (bonds). This amount would be returned in 10 years with 7.11 percent interest.

Earlier on March 3, the government took a loan of thousand crores. With this, the loan amount has increased to eight thousand crores in the current financial year. According to Finance Department officials, this amount will be used for paddy purchase and development work as well as repayment of interest.

Government has passed a supplementary budget of Rs 16 hundred crores. Since then, the government has taken a loan of two thousand crores. According to the officials, the last phase of the financial year is going on, the government can still take more loans.

With this loan of thousand crore, the total debt burden on state has increased to more than 59 thousand crores. In August 2019, the government took its first loan in lieu of bonds followed by a loan of thousand crores in September. After a gap of two months, they took a lump sum of two thousand crore in December and twice in January this year. All in all, as the financial year ends, the government has taken the loan of nearly eight thousand crores.