The State Government has indicated intentions to raise ₹15,000 crore in the first quarter of the current financial year through open market borrowings.
The State will borrow the amount in eight tranches – ₹ 3,000 crore each in two instalments, ₹2,000 crore and ₹ 1,000 crore in three instalments each during the period. The open market borrowings would start with ₹1,000 crore on April 11 and ₹2,000 crore on April 26. This will be followed by ₹8,000 crore in three instalments in May - ₹3,000 crore on May 2, ₹2,000 crore (May 17) and ₹ 3,000 crore (May 31).
The Government indicated that it would raise the remaining ₹4,000 crore in two instalments of ₹1,000 crore each (June 7 and 28) and ₹2,000 crore on June 14. The RBI said it had announced that quantum of market borrowings in consultation with the State Governments/Union Territories for the quarter April – June of the current fiscal.
