The Tamil Nadu government plans to borrow ₹37,000 crore in the fourth quarter of fiscal 2023-24, according to the indicative calendar of market borrowings released by the Reserve Bank of India (RBI).
To bridge the income-expenditure gap (fiscal deficit), the State borrows from the market through the issue of bonds known as State Development Loans (SDLs), which form a major part of its total outstanding liabilities. So far in fiscal 2023-24 (till December), the State government has raised ₹76,000 crore, according to the data available on the RBI website.
