States' mkt borrowings jump 76% to Rs 1.93 trn so far this fiscal: Report

The states, reeling from massive revenue losses due to coronavirus lockdowns, have front-loaded their borrowings by a whopping 76 per cent so far this fiscal to Rs 1.93 trillion, says a report.

Front-loading of market loans has been on the back of the Centre relaxing the ways and means advances norms to manage cash-flow mismatches due to the pandemic, says a report by Care Ratings.

In addition, the Centre has also relaxed the fiscal deficit target from 3 to 5 per cent.

"Between April 1 and July 14, the states' market borrowings have jumped to Rs 1.93 trillion, which is