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Covid-19 Economic Package: Government Allows Increased State Borrowings With Conditions Attached

States can borrow over Rs 10 lakh crore in FY21 but with conditions attached.

BQ Desk
The portrait of Mahatma Gandhi is displayed on an Indian 50 rupee, left, and 2000 rupee banknotes. (Photographer: Brent Lewin/Bloomberg)

The Indian government has raised the borrowing limit for states sharply to a total of over Rs 10 lakh crore, amid expectations that the Covid-19 pandemic will lead to a surge in expenditure. However, the increased borrowing limits have come with conditions attached, which seek that states implement reform priorities laid down by the central government.

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