ECONOMY

State Government Finances – Lower Borrowings Amid Rising Cost: CARE Ratings

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Four states raised a total of Rs 3,250 crore at the auction of the state government securities or state development loans held on April 19.

This was the third auction for FY22.

There has been a notable difference in the state government borrowings in the first three auctions of FY22, when compared with that in the same period of FY21.

A fewer number of states have tapped the market for funds and the quantum of borrowing too has been significantly lower.

In the first three weeks of FY21, 22 states and one Union Territory had cumulatively raised Rs 52,255 crore.

This was 83% more than that the Rs 8,950 crore raised by 6 states and 1 UT so far in the corresponding period of the current financial year.

Click on the attachment to read the full report:

CARE Ratings State Government Borrowings.pdf

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