The Union Finance Ministry has sanctioned a further borrowing space worth ₹2,924 crore to Kerala in view of the power sector reforms implemented by the State, Electricity Minister K. Krishnankutty said on Monday. Last week, the Centre had sanctioned an additional borrowing space worth ₹2,924 crore tied to power sector reforms.

Subsequently, the State had submitted additional documents to the Centre pertaining to the reforms, which has led to the latest decision, Mr. Krishnankutty said. The expenditure division of the Union Finance Ministry has issued a notification in this regard, he said. With this, the State has received approval for an additional borrowing of ₹5848 crore in connection with reforms in the power sector.