Balagopal seeks borrowing limit increase and release of withheld funds
Nirmala Sitharaman
in New Delhi on Monday, requesting permission to borrow Rs 6000 crore spent as state's contribution for the acquisition of land for NH development.
He also sought steps for the release of funds withheld by Centre.
Kerala
is the only state that bears 25% of the land acquisition cost of NH widening. State govt met the expense through borrowing. However, Centre deducted that amount from the annual borrowing limit of state, Balagopal pointed out in the memorandum, seeking permission to borrow Rs 6000 crore in the current fiscal, free of conditions, over and above the net borrowing ceiling fixed by GOI for 2025-26.
Balagopal requested the release of Rs 3323 crore deducted from the borrowing ceiling on account of non-contribution to the Guarantee Redemption Fund. Since state took steps for the contribution, consent should be given to borrow Rs 3323 crore deducted from the borrowing ceiling, he said.
The state finance minister also requested the release of Rs 1877.57 crore allotted to state in 2023-24 on account of variation in the GSDP, which was adjusted in 2024-25. An amount of Rs 965.16 crore was deducted in April 2025 on account of the adjustment of advance apportionment to make up the shortfall in the IGST balance as of March 31, 2025. This deduction adversely affected the revenue position of state and therefore Balagopal requested that the reduced amount be restored to the state in the current year.
Stay updated with the latest local news from your
city
on
Times of India
(TOI). Check upcoming
bank holidays
,
public holidays
, and current
gold rates
and
silver prices
in your area.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
7 minutes ago
- Business Standard
Delhi court summons Samir Modi in defamation case by GPI directors
A Sessions Court in Delhi on Thursday summoned Samir Modi in defamation proceedings filed against him by independent directors of Godfrey Phillips India (GPI), Nirmala Bagri and Atul Kumar Gupta. The court held that there was, prima facie, 'sufficient evidence' to summon Samir Modi, and directed the trial court to proceed as per law in the defamation case. Bagri and Gupta had initiated defamation proceedings against Samir Modi, alleging that his statements to the media had damaged their reputations. The trial court had rejected the defamation plea on 19 May, after which the directors filed a revision petition in the Sessions Court. On Thursday, the Sessions Court set aside the trial court's order and summoned Samir Modi. In May 2024, Samir Modi had alleged that his mother, Bina Modi, and other directors of GPI had 'orchestrated an attack' on him during a board meeting. He had also alleged that he was assaulted by the personal security officer (PSO) of his mother, who is the chairperson and managing director of the company. Samir Modi was removed from GPI's board at a meeting on 7 August last year after fellow directors did not support his reappointment. In his place, the company appointed Charu Modi, daughter of Bina Modi and sister to Samir and Lalit Modi. The younger son of KK Modi and Bina Modi lodged a first information report (FIR) with Delhi Police on 27 June 2024, accusing his mother, her PSO, and GPI directors of causing him 'grievous hurt'. The dispute comes against the backdrop of a contentious succession battle over an estimated Rs 11,000-crore inheritance following the death of family patriarch KK Modi in 2019. Samir Modi, one of KK Modi's three children and brother of former Indian Premier League (IPL) chief Lalit Modi, has challenged his mother's management of the family's affairs in the Supreme Court.
Indian Express
7 minutes ago
- Indian Express
CM Fadnavis inaugurates 4 infrastructure projects
Chief minister Devendra Fadnavis on Thursday inaugurated four Mumbai Metropolitan Region Development Authority (MMRDA) projects meant to provide better connectivity, reduce traffic congestion and enhance the public transport system in the city. Fadnavis inaugurated the projects in the presence of senior state leaders and officers including Metropolitan Commissioner Dr Sanjay Mukherjee. The projects include the last phase of the extension of the Santacruz Chembur Link Road (SCLR), the Mumbai Metro Simulator Training Centre at Mandale Depot and the Metro residential complex for staff in Malvani and Kalanagar Sub Flyover – Arm D. The SCLR extension boasts South Asia's first cable stayed bridge with a steep curve span of 100 metres. It links the Eastern and Western Express Highways without signals, reducing travel time between Chembur and Vile Parle by about an hour. The 1.66 km-corridor has a 215 metre orthotropic steel deck and was constructed at a cost of Rs 200 crore. Speaking at the occasion, Fadnavis said, 'The completion of the final phase of the Santacruz–Chembur Link Road, with South Asia's first sharp-curve cable-stayed bridge, is a proud achievement that will ease travel between the Eastern and Western Express Highways. With five out of six exit routes from BKC already complete.' The Mumbai Metro Simulator Training Centre stands as India's largest such centre. Constructed at Rs 70 crore, it has the capacity to train 144 personnel simultaneously through simulation based driving and maintenance systems. The centre will save Rs 255 crore in training expenditure over ten years and also serve metro staff from other cities of India. Kalanagar Sub Flyover – Arm D, 340 metres long, connects Dharavi to the Bandra-Worli Sea Link and enables unbroken commute between Dharavi and South Mumbai. It is constructed in a limited area at a cost of Rs 20 crore. Mukherjee said, 'The Mumbai Metro Simulator Training Centre, in particular, sets a new benchmark for workforce readiness, while the Santacruz Chembur Link Road and Kalanagar Flyover will significantly ease commuter congestion and reduce travel time.' Additionally, in Malvani, two 20-storey residential towers have been built for Metro employees, each accommodating 156 apartments with fire safety features and robotic car parking. Another 241 apartments are being built. The cost of the project is Rs 90 crore.
Indian Express
7 minutes ago
- Indian Express
‘Why won't you respect my language': Mamata attacks Centre over ‘harassment' of Bengali-speaking people
West Bengal Chief Minister Mamata Banerjee on Thursday again accused the Centre of failing to protect Bengali-speaking people from harassment in different parts of the country, citing a recent incident where a techie and his son were allegedly denied hotel accommodation in Noida 'simply because he spoke in Bengali.' Speaking at the annual Kanyashree project programme, Banerjee said, 'If someone is a foreigner, action must be taken against them if the Government of India deems it necessary. That is not in our hands. But such actions should not be done arbitrarily… If I respect your language, why will you not respect mine?' Recalling her own struggles, she told students, 'After my father passed away, I had to sell one of my necklaces to enrol in college. We had no facilities, no advantages. This generation's youth should not suffer like that. They must be self-reliant. I urge parents to not pressure girls into marriage. Once they turn 18, they receive Rs 25,000, keep that in the bank. Even while getting married, women will get Rupashree, another Rs 25,000.' Banerjee highlighted the fall in dropout rates for girls since 2011-12—from 4.75 percent to zero in primary, 16.32 percent to 2.9% in secondary, and 15.41 percent to 3.17 percent in higher secondary. 'Is this not something to be proud of?' she said, urging girls to pursue academics, vocational training, sports, and other careers, citing examples of pilots, doctors, dancers and footballers. On language, she said English must be learned well, even in Bengali-medium schools, but 'never forget your mother tongue'. 'Earlier, till Class 5, English was not taught, but we have introduced it. We should know all languages,' she said. Banerjee invoked history from Vidyasagar abolishing child marriage to Raja Ram Mohan Roy ending sati to highlight West Bengal's contribution to Independence, stressing that 'without Bengal, India's Independence would not have been possible.' 'We have also suffered from Partition. But people who left everything and came to India as refugees were received as Indian citizens,' she said.
