The State Government received the much-needed relief with the Union Finance Ministry giving its nod for raising open market borrowings to the tune of ₹3,000 crore. This is the second installment of loan offtake by the government this quarter ending this month, the first having been raised on June 7 to the tune of ₹4,000 crore.
The State will participate in the auction of securities slated for next Tuesday following the approval granted by the Central Government. The State had initially released a notification for the latest borrowing to raise only ₹1,000 crore through auction of securities, but the amount had now been increased to ₹3,000 crore.
“We will be raising ₹3,000 crore. At present that is the plan,” a senior Finance department official said.
