HP applies for 1000 cr more loan- JR Thakur Govt oversteps set limit

himachalscape February 21, 2020 1 minute read

Overstepping the set limit in one financial year (5000Cr), the JaiRam Thakur led state government has decided take yet another loan of 1000 crores. Media reports highlight that this one is a long term loan which will have to be returned in 14 years.
Reportedly, the government justifies that the fund is being raised for developmental activities to be carried. However critics state that this fund would used to pay off the 5% DA to 3 lakh state government employees. The same was anounced by Thakur on January 26th and the total expenditure involved with the promise is around 280 crores.