CM Sukhu requests Sitharaman to allow additional borrowing in 2025-26

Shimla, Mar 20 (PTI) Chief Minister Sukhvinder Singh Sukhu on Thursday requested Union Finance Minister Nirmala Sitharaman to allow Himachal Pradesh an additional borrowing of two per cent of the Gross State Domestic Product (GSDP) in 2025-26.

Sukhu, who called on the finance minister in New Delhi, raised the issue of reducing Revenue Deficit Grants and said the state government has taken many steps for additional resource mobilisation. However, these are insufficient to meet the budgetary obligations for the financial year 2025-26.

The issue regarding the requirement of additional resources for creating infrastructure due to high-cost construction following tough topographical and weather conditions, a statement issued here said.

The chief minister urged the finance minister to review the limit imposed by the Department of Expenditure on Himachal Pradesh to avail external assistance and restore the position as it has adversely affected the financial position of the state and many projects are stalled.

He further requested to consider funding for a reconstruction and rehabilitation proposal from Himachal Pradesh for multilateral funding from the World Bank under a new window, which is over and above the ceiling imposed by the ministry, the statement said.

Sitharaman assured of sympathetic consideration of the demands as placed by the chief minister, it added. PTI BPL BAL

Source: PTI