State Development Loans surge to Rs 3.2 trn till January, Maharashtra tops

During April-January 2018, the central government borrowings aggregated to Rs 5.77 trilion

The borrowings by various state governments through State Development Loans have gone up 8.7 per cent this financal year (till January-end).

Total borrowings by the states in this period stood at Rs 3.24 trillion compared with Rs 2.98 trillion in the same period of FY17.

In terms of volume of borrowings, Maharashtra topped with Rs 366 billion followed by Tamil Nadu (Rs 342 billion) and Uttar Pradesh (Rs 338 billion), according to a study on 'Debt Market Review' by CARE Ratings.

For January 2018, 27 states raised funds worth Rs 486 billion by way of State Development Loans which was