States to borrow Rs 35,113 cr this fiscal
Reserve Bank on Wednesday said state governments will borrow Rs 35,113 crore from the market this fiscal, of which about one-third has already been raised.
By PTI |
MUMBAI: Reserve Bank on Wednesday said state governments will borrow Rs 35,113 crore from the market this fiscal, of which about one-third has already been raised.
So far, 17 state government have been able to mobilise Rs 12,026 crore, RBI said in a release. This is 34.25 per cent of the total amount to be raised during the financial year.
The amount has been raised by the state governments through the auction of their state development loans, it said.
The balance amount of Rs 23,087 crore would be raised during the remaining period in a phased manner, it said.
RBI in its annual policy statement for 2006-07 had proposed that states would develop an advance indicative open market borrowing calender. To begin with, it was decided to disseminate information on borrowings to bring greater transparency in the market borrowing programme of state governments.
The states and RBI would have the flexibility to bring about modifications in the borrwoing programme in view of the emerging requirements, market conditions and other relevant factors, the regulator said.
The central government borrowing programme for 2007-08 is budgeted at Rs 1,09,579 crore as against Rs 1,07,453 crore in the previous year.
So far, 17 state government have been able to mobilise Rs 12,026 crore, RBI said in a release. This is 34.25 per cent of the total amount to be raised during the financial year.
The amount has been raised by the state governments through the auction of their state development loans, it said.
The balance amount of Rs 23,087 crore would be raised during the remaining period in a phased manner, it said.
RBI in its annual policy statement for 2006-07 had proposed that states would develop an advance indicative open market borrowing calender. To begin with, it was decided to disseminate information on borrowings to bring greater transparency in the market borrowing programme of state governments.
The states and RBI would have the flexibility to bring about modifications in the borrwoing programme in view of the emerging requirements, market conditions and other relevant factors, the regulator said.
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The central government borrowing programme for 2007-08 is budgeted at Rs 1,09,579 crore as against Rs 1,07,453 crore in the previous year.
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