Business Standard

States borrow only 84% of Rs 1.9-trillion notified amount in first quarter

This initiative entails providing special assistance to State Governments through 50-year interest-free loans, amounting to a total of Rs. 1.3 trillion during the financial year 2023-24.

borrowing, money
Premium

Illustration by Binay Sinha

Anjali Kumari Mumbai

Listen to This Article

States and Union Territories (UTs) tapered their borrowing in the first quarter of the current financial year, and borrowed only 84 per cent of the notified amount of Rs 1.9 trillion.

“States are not going for the full amount because they are getting assistance from the central government,” a dealer at a state-owned bank said. “A few days ago, they received some amount from the central government for infrastructural development.”

The central government on Monday granted approval for interest-free and long-term capital expenditure loans amounting to Rs 56,415 crore to 16 states for the fiscal year 2023-24 so far, under

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 29 2023 | 8:49 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com