Goa borrowed Rs 4,148 cr interest-free loans last fiscal; stayed within FRBM limits: CM

Panaji, Mar 9 (PTI) Goa Chief Minister Pramod Sawant on Monday said that the state had borrowed Rs 4,148 crore in interest-free loans last fiscal year, assuring that it has stayed well within the Fiscal Responsibility and Budget Management (FRBM) limits.

During the Question Hour in the state assembly, Sawant thanked the Central government for providing interest-free loans based on reforms for various states post the COVID-19 pandemic.

He noted that the state borrowed Rs 4,148 crore during the last fiscal year under the interest-free loan scheme and is now eligible to borrow Rs 4,500 crore.

The chief minister further said that NABARD and Small Industries Development Bank of India (SIDBI) provided loans with interest ranging from 2.5 to 5 per cent for rural and industrial infrastructure creation, and the state has borrowed Rs 3,000 crore from these institutions.

Under market borrowings, Sawant said that the state was eligible to borrow Rs 4,500 crore last year, of which only Rs 2,500 crore was borrowed, which is well within the FRBM limits.

He said that this year the state is eligible for market borrowing of Rs 3,500 crore, but it will borrow only Rs 1,000 crore. PTI RPS ARU