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Four more states complete ‘Ease of Doing Business’ reforms

Four more states namely, Assam, Haryana, Himachal Pradesh and Punjab have undertaken “Ease of Doing Business” reforms stipulated by the Ministry of Finance. Thus, these states have become eligible to mobilise additional financial resources and have been granted permission raising additional Rs.5,034 crore through Open Market Borrowings.

Now, the total number of these states has gone up to 12. Earlier, Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana have also reported completion of this reform.

On completion of reforms facilitating ease of doing business, these 12 states have been granted additional borrowing permission of Rs.28,183 crore.

The ‘ease of doing business’ is an important indicator of the investment-friendly business climate in the states or country. Improvements will enable faster future growth of the state economy. Therefore, the central government had decided to link grant of additional borrowing permissions to states who undertake the reforms to facilitate ease of doing business.

State-wise, the total reform linked additional borrowing permission stands at Rs.74,773 crore.