(Tribune)
With little revenue generation from its resources, the cash-strapped Himachal Government has once again decided to raise Rs 200-crore short term and Rs 200-crore long-term loan to meet its development needs.
As per the notification issued by the Finance Department, the Rs 200-crore long-term loan has tenure of 10 years time. The consent of the Central Government has already been obtained for the floatation of this loan as required under Article 293 (3) of the Constitution of India. The payment to the Himachal Government by way of this Rs 200 crore loan will be made on October 30. The loan will be repaid at par on October 30, 2029. The interest will be paid on April 30 and October 30 every year on this total loan mount.
The government has also decided to raise a short-term loan of Rs 200 crore for a period of three years. The loan will be repaid at par on October 30, 2022.
