Need to devise a better formula for setting states' borrowings: SBI report

A similar scheme could be envisaged for states that are borrowing more, with a scale down in the permissible borrowing or the higher advance borrowings may be resorted to only at a rate that is higher than market rate of interest, the report said. Another possible solution could be linking the state borrowing to its own tax revenue, it added.

from Economy-News-Economic Times https://ift.tt/3C8ZTJM