Chhattisgarh has found a place in the list of 20 states successfully completing Ease of Doing Business reforms, thanks to the industry-friendly decisions and policies of the Bhupesh Baghel-led government.
With this, Chhattisgarh has become eligible for additional borrowing of 0.25 percent of Gross State Domestic Product (GSDP), an official communication said on Saturday.
On receipt of the recommendation from the Department for Promotion of Industry and Internal Trade, the Department of Expenditure has granted permission to these 20 states to raise additional financial resources of Rs 39,521 crores through Open Market Borrowing.
Chhattisgarh has been allowed to take a loan of Rs 895 crores as additional financial source.
The number of states who have successfully completed the 'Ease of Doing Business' reforms has reached to 20. Apart from Chhattisgarh, Arunachal Pradesh, Goa, Meghalaya and Tripura recently completed the reform process.
The ease of doing business is an important indicator of the investment friendly business climate in the country. Improvements in the ease of doing business will enable faster future growth of the state economy.
The Central government in May 2020 decided to link grant of additional borrowing permissions to states who undertake the reforms to facilitate the ease of doing business.