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Jul 12, 2020
8:44PM

FM Nirmala Sitharaman reviews implementation of Aatma Nirbhar Bharat Package; Borrowing limits of States increased from 3 to 5 per cent for 2020-21

@nsitharamanoffc
Finance Minister Nirmala Sitharaman reviewed the implementation of Aatma Nirbhar Bharat Package pertaining to Ministries of Finance and Corporate Affairs. 

The government has decided that Global tenders will be disallowed in Government procurement tenders up to Rs 200 crore. In the review it was decided that no Global Tender Enquiry (GTE) shall be invited for tenders upto Rs 200 crore, unless prior approval is obtained from Cabinet Secretariat. 

Giving relief to contractors, it was announced that all central agencies like Railways, Ministry of Road Transport and Highways and Central Public Works Department will give extension of up to 6 months for completion of contractual obligations, including in respect of EPC and concession agreements.

The Finance Minister announced that the Centre has decided to accede to the request and increase borrowing limits of States from 3 per cent to 5 per cent for 2020-21 only in view of the unprecedented situation. This will give States extra resources of Rs 4,28,000 crore. 

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