Hyderabad: Chief Minister K. Chandrasekhar Rao on Monday sought intervention by NITI Aayog to relax the borrowing limit of Telangana from the existing 3 per cent to 3.5 per cent to raise fresh loans for various developmental projects taken up by the state.
In a letter to NITI Aayog vice-chairperson, Dr Arvind Panagariya, the Chief Minister emphasised the importance of increasing public investment to revive the economy and assured that the state would use the extra funds only for infrastructure development.
Mr Rao reminded the NITI Aayog vice-chairperson that the 14th Finance Commission had recommended flexibility to the extent of 0.5 per cent over and above the annual borrowing limit of 3 per cent of GSDP of a state on fulfilling certain conditions, which TS meets.
