The State Government raised another instalment of open market borrowings to the tune of ₹1,000 crore through sale of securities on Monday.
This is the second market borrowing this month as the State raised ₹2,500 crore on August 2. The total quantum of OMBs raised so far during the current financial year reached ₹15,500 crore with the State opting for ₹12,000 crore borrowings in June and July ever since it has been permitted to raise OMBs by the Union Finance Ministry.
The borrowings come as a major relief to the State as the government had to continue implementation of the spree of welfare schemes like Dalit Bandhu and the just announced Nethanna Bima, insurance cover for weavers. However, confusion still prevails over the total quantum of borrowings allowed to be raised during the current fiscal.
