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Madhya Pradesh government to borrow 800 crores

Wednesday - December 5, 2018 10:48 am , Category : MADHYA PRADESH
Shivraj Singh Chauhan's 'confidence of victory' in Assembly elections
Shivraj Singh Chauhan's 'confidence of victory' in Assembly elections

Prior to the election results, the Madhya Pradesh government to take a loan of 800 crore rupees, Congress opposes

DEC 05 (WTN) - The result of the Madhya Pradesh Assembly elections are scheduled to be held on December 11, everyone wants to know if BJP will win for the fourth consecutive time, or else the Congress will come in to power after 15 years. But before coming to the election result, politics has started in the state of Madhya Pradesh. In fact, the state government is going to borrow Rs 800 crore. For your information, let you know that there is already a loan of Rs 2 lakh crore on the state. According to information received from media, in order to fulfill the incomplete work, the state BJP government is going to borrow Rs 800 crore.

According to the information, this loan of 800 crores will be on 8.44 percent interest for ten years. The finance department has sought permission from the Reserve Bank of India to take a loan. For your information, let you know that any state government can take up loan to 3.5 percent of its GDP in a financial year after getting permission from the central government. If we talk about Madhya Pradesh, so from April 1, 2018 to March 31, 2019, Madhya Pradesh government can take up to 24 thousand crores of loans.

Let’s talk about this financial year, so the state government has taken a loan of Rs 12,500 crore since April 1, 2018. If this loan of 800 crores is also brought, then the loan taken in the current financial year by the Madhya Pradesh government will be Rs. 13,300 crores. Here the Congress is questioning the government's timing for taking loans, but according to the finance department, it’s a routine process.

Here the Congress has questioned the borrowing of the state government. The state's main opposition party, Congress, asked the state government, “Why it was necessary that even before the formation of the new government, the government has to borrow, could it not be waiting for six to seven days.”

Here, the BJP says, “This loan is being taken keeping in mind the needs of the state. The aim of the BJP government in the state is to work for every section of the society, and it is being worked continuously.” The Congress has reversed this, says “This government is making the state more borrower while going to be defeated. A new mandate is coming soon after a few days, so in this case there is no justification for taking a loan.”

For your information, let you know that even Congress has questioned the Shivraj cabinet meeting and now the Congress has said that this is the insult of the mandate by the state government through taking a loan of 800 crores. But the big question is whether the state's Shivraj government could avoide the decision to borrow till the new mandate. If the BJP was defeated after the election result and the Congress won, then the burden of loans taken just a few days ago would be on the new government , which had not taken it.

It is being said that Shivraj Singh has full confidence that the BJP will again win the state and its government will be formed. Shivraj Singh Chauhan, with full confidence, is taking such decisions which show that he has enough confidence of winning. Whether it is a decision of a Cabinet meeting or a loan of Rs 800 crore, it is clear in both cases that Shivraj Singh Chauhan is in full confidence that the BJP is winning. Now it is necessary to see how his confident will be proved right.