Ranchi, Mar 26: The Jharkhand government has sought a ₹1,500 crore loan from the Reserve Bank of India (RBI) to ensure smooth implementation of development schemes under the Fiscal Responsibility and Budget Management (FRBM) Act, officials said.
Jharkhand Finance Secretary Prashant Kumar has sent a request letter to the RBI in this regard. Under the FRBM provisions, states are allowed to borrow up to 3% of their Gross State Domestic Product (GSDP). The state will receive the loan at an annual interest rate of 6.92% and will repay the amount within three years, officials said.
In a separate development, Jharkhand will become the third state in India to build glass bridges and skywalks at three major tourist destinations. The structures will be constructed at Dassam Falls and Hundru Falls in Ranchi district, as well as Magnolia Point and Koel View Point in Netarhat.
The project will be modeled on the glass bridge in Bihar’s Rajgir, officials said. The tourism department has identified sufficient land for the project and has engaged with the consultancy firm responsible for constructing the Rajgir bridge.
Meanwhile, Jharkhand Assembly Speaker Rabindra Nath Mahato called for a new law to regulate private school fees, citing concerns over unregulated fee structures. “A fresh law should be enacted to control fees charged by private schools,” he said.
Education Minister Ramdas Soren responded that committees already exist at the school and district levels to oversee fee structures, and any legal measures would be based on their recommendations.
The issue was first raised by Hazaribagh MLA Pradip Prasad, who questioned why a law should not be enacted to prevent financial burdens on parents.
