New Delhi, Dec 19 : The Finance Ministry on Tuesday approved an additional borrowing of Rs 60,876.8 crore to 22 States in 2023-24 for contribution to the National Pension Scheme (NPS).

This will be over and above the net borrowing ceiling for 2023-24.  The normal ceiling for net borrowing by states has been fixed at 3 per cent of their gross state domestic product (GSDP). The GSDP currently stands at Rs 8.59 lakh crore. The ministry also issued approval for raising Rs 6.99 lakh crore for open market borrowing and Rs 69,370.81 crore for availing of negotiated loans during 2023-24.