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10:20 AM
Borrowing by states increases 45% this fiscal
Eleven States raised a total of ₹14,298 crore at the auction of State government securities or State development loans (SDLs) held on Tuesday.
This is ₹1,500 crore more than the notified amount of the auction as Maharashtra and Gujarat had accepted an additional ₹1,000 crore and ₹500 crore respectively, CARE Ratings said in a report based on RBI data.
From April 7 to September 22 in this financial year, 27 States and 2 Union Territories have cumulatively raised ₹3.26 lakh crore via market borrowings, which is a 45% increase from the borrowings in the corresponding period of 2019-20.
Having faced a sharp decline in revenues, State…