With the steep cut imposed by the Central government on open market borrowings, the State government is exploring other options to raise resources to meet the requirements for effective implementation of its flagship schemes like Dalit Bandhu.
The Cabinet sub-committee on resource mobilisation headed by Finance Minister T. Harish Rao is said to be in consultation with experts on the modalities to raise resources other than open market borrowings through the Reserve Bank of India. “The panel is looking at various options,” a senior Finance department official told The Hindu.
The development follows the reduction of the borrowing limit of the State by the Union Finance Ministry citing the huge off budget borrowings and warning that these would be brought under the Fiscal Responsibility and Budget Management norms despite repeated pleas of the State government.
