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Care Ratings: State Government Borrowings Update

Thirteen states raised Rs 19,250 crore at the auction of state government securities or state development loans held today.

The portrait of Mahatma Gandhi is displayed on an Indian 50 rupee, left, and 2000 rupee banknotes. (Photographer: Brent Lewin/Bloomberg)
The portrait of Mahatma Gandhi is displayed on an Indian 50 rupee, left, and 2000 rupee banknotes. (Photographer: Brent Lewin/Bloomberg)

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Care Ratings Research Report

13 states raised a total of Rs 19,250 crore at the auction of state government securities or state development loans (SDLs) held today, which was Rs 1,750 crore more than the notified amount of the auction as two states – Maharashtra and Telangana accepted an additional amount of Rs 1,000 crore and Rs 500 crore respectively.

So far in the current fiscal year (April 07- October 13, 2020), 28 states and two Union Territories have cumulatively raised a total of Rs 3.95 lakh crore via market borrowings, 52% more than the borrowings in the corresponding period of 2019-20 (Rs 2.59 lakh crore).

As per the borrowing calendar for the first three quarters of 2020-21 (April-December), the states are to borrow Rs 5.07 lakh crore.

States have already borrowed 78% of this amount.

Click on the attachment to read the full report:

Care Ratings - State Government Borrowings October 13, 2020.pdf

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