Flood-ravaged Kerala seeks at least $1.4 billion loan for reconstruction
Updated : August 22, 2018 06:54 AM IST
The proposed loan is part of a special package that Kerala, which estimates it has suffered damage of at least 200 billion rupees, will seek from Prime Minister Narendra Modi's government for rebuilding efforts, minister Pinarayi Vijayan said.
Kerala will ask Modi's government to raise the state's borrowing ceiling to 4.5 percent of its GDP from 3 percent, which will help raise an additional 105 billion rupees from the market, Vijayan said.
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