State govts gross market borrowings to be Rs 59,000 cr in FY'09
Reserve Bank on Tuesday said that the estimated gross market borrowings of state governments during the current fiscal is pegged at Rs 59,000 crore.
By PTI |
MUMBAI: Reserve Bank on Tuesday said that the estimated gross market borrowings of state governments during the current fiscal is pegged at Rs 59,000 crore.
It takes into account the repayments of Rs 14,371 crore, RBI said in a press release.
So far (up to June 17, 2008), it said, six state governments have raised Rs 5,912 crore through the sale of their State Development Loans (SDLs) through auction method.
The market borrowings of the state governments will be raised in a phased manner depending upon their requirements, it said.
RBI also said the state governments or RBI would have the flexibility to review the borrowing requirements and bring about modifications in the borrowings keeping in view the emerging requirements of the state governments, market conditions and other relevant factors, it added.
It takes into account the repayments of Rs 14,371 crore, RBI said in a press release.
So far (up to June 17, 2008), it said, six state governments have raised Rs 5,912 crore through the sale of their State Development Loans (SDLs) through auction method.
The market borrowings of the state governments will be raised in a phased manner depending upon their requirements, it said.
RBI also said the state governments or RBI would have the flexibility to review the borrowing requirements and bring about modifications in the borrowings keeping in view the emerging requirements of the state governments, market conditions and other relevant factors, it added.
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