BackIndia didn’t use $20 bn of external loans: FM
India didn’t use $20 bn of external loans: FM
Premium
New Delhi: India failed to make use of $19.7 billion (around Rs95,500 crore) of loans sanctioned by overseas institutions including the World Bank and Asian Development Bank (ADB) as on 31 March, finance minister Pranab Mukherjee said.
The unused loan amount for the World Bank and ADB is Rs57,200 crore against the sanctioned loan amount of Rs1.19 trillion, Mukherjee said in a written reply to a question in Parliament on Tuesday. All funds cannot be used at one go, minister of state for finance Namo Narain Meena said in Parliament.
India paid a commitment charge of Rs113 crore in the fiscal ended 31 March for not using the amount, Mukherjee said.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
