SC allows Kerala borrow ₹13,608 cr more in FY24
Financial Express Mumbai|March 07, 2024
THE SUPREME COURT on Wednesday allowed the Kerala government to borrow ₹13,608 crore more in the current fiscal year, while expressing disapproval over the "peremptory"condition imposed by the Centre that the state must withdraw the suit filed before the court for the additional borrowing facility.
PRIYANSH VERMA
SC allows Kerala borrow ₹13,608 cr more in FY24

The apex court is currently hearing a suit filed by the Kerala government which accuses the Centre of interfering in the exercise of its "exclusive, autonomous and plenary powers" to regulate the state's finances by imposing a ceiling on borrowing. In a note submitted to the apex court last month, the Centre had said that since Kerala has challenged the Centre's power to impose conditions on borrowing, the state's request for additional borrowing (up to 3.5% of GSDP) can only be considered after it has withdrawn the suit.

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