Chidambaram welcomes Centre's decision to borrow additional 4.2 lakh cr

Senior Congress leader P Chidambaram on Saturday welcomed the Centre's decision to borrow additional 4.2 lakh crore and said it should be used to provide relief to the poor and re-start the economy.

"After resisting our appeals, especially through statements of the CEA, the government has finally decided to borrow an additional amount of Rs 4.2 lakh crore taking the projected fiscal deficit to 5.38 per cent. We welcome the decision," he said in a statement.

The senior Congress leader, however, said, "It is not enough to borrow more unless the amount is used to provide relief to the poor and to re-start the economy. We look forward to the revised expenditure budget for 2020-21."