State government to take 60 thousand crores loan for infrastructure development

Mumbai: To raise a loan of 60 thousand crores for the construction of various infrastructure projects in Mumbai the decision to grant approval was taken in a cabinet meeting. Chief Minister Eknath Shinde said that in the first phase, a loan of twelve and a half thousand crores will be given. 

As of March 2022, the debt stood at Rs 4 lakh 89734 crores. It is estimated at 5 lakh 64670 crores at the end of March 2023. Of course, since MMRDA is a government-owned but autonomous organization, this loan will not include a new loan of Rs 60,000 crore. The state government is allowed to borrow 24 percent of its gross income and borrowing has been done within that limit.