Madhya Pradesh government again took a loan of five thousand crores

Bhopal: Madhya Pradesh government has started the new year with a loan. The state government has taken a loan of five thousand crores in two phases in the open market on January 1. Its process was completed through the e-Kuber system of the Mumbai branch of the Reserve Bank of India (RBI). The total debt figure on the state has now exceeded Rs 3.75 lakh crore.

In the first phase, the state government took a loan of Rs 2500 crore from the institution giving loans at the lowest interest rate. This loan has been taken for 13 years and it will be repaid by January 1, 2038. At the same time, in the second phase, a loan of Rs 2500 crore has been taken for 22 years. The state government will repay it in 2047.

The process of both the phases was completed through the e-Kuber system of RBI. At present, the total debt figure on the Madhya Pradesh government has reached Rs 3,75,578 crore. This includes loan taken from the market: Rs 2,03,000 crore. Loan taken from financial institutions: Rs 15,248 crore and loan and advance from the central government: Rs 62,012 crore.