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14 State Governments Raise Rs 15,476 Crores

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Fourteen states raised a total of Rs.15,475.53 crores at the auction of state government securities or state development loans (SDLs), according to a report By CARE Ratings.

"While three states viz. Gujarat, Telangana and Haryana accepted additional amounts at the auction, Assam did not accept any amount in the 10 year security and Punjab accepted 57% (of Rs. 570.53 crores) of the notified aamount. Gujarat and Telangana accepted an additional amounts of Rs. 500 crores each and Telangana accepted an additional amount of Rs.250 crores," the report states.

So far in the current fiscal year (7 Apr-10 Nov'20), 28 states and 2 union territories have cumulatively raised a total of Rs. 4.64 lakhs crores via market borrowings, 51% more than the borrowings in the corresponding period of 2019-20 (Rs. 3.07 lakh crores).

14 State Governments Raise Rs 15,476 Crores
 

"As per the borrowing calendar for the first three quarters of 2020-21 (Apr-Dec), the states are to borrow a total of Rs. 5.07 lakhs crores. 91% of this amount has been borrowed so far. The central government has permitted 21 states to cumulatively raise an additional Rs. 78,452 crores via market borrowings in the current financial year. This borrowing is towards meeting the shortfall in GST compensation from the center to the states. Chhattisgarh, Jharkhand, Kerala, Punjab, Rajasthan, Telangana, and West Bengal are not a part of the 21 states.," CARE Ratings has observed.

Read more about: borrowings state governments
Story first published: Wednesday, November 11, 2020, 8:49 [IST]
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