Tamil Nadu government plans to borrow ₹20,000 crore in Q1, 2025-26
The Hindu
Tamil Nadu government to borrow ₹20,000 crore in Q1 of 2025-26, part of total ₹1,62,096.76 crore borrowing plan.
Tamil Nadu government plans to borrow ₹20,000 crore in the first quarter of fiscal 2025-26, according to the indicative market borrowings schedule of States released by the Reserve Bank of India (RBI).
States including Tamil Nadu raise funds through issue of bonds known as State Development Loans (SDLs). The auction for the bonds is conducted by the RBI. The bonds are issued for various tenures and States have to repay the principal along with interest on maturity.
In his budget speech for 2025-26 last month, Finance Minister Thangam Thennarasu said the estimates for receipt and repayment of borrowings have been finalised on the basis of overall borrowing ceiling fixed by the Government of India.
Tamil Nadu government plans to borrow a total amount of ₹1,62,096.76 crore during 2025-26 and make repayment of ₹55,844.53 crore. As a result, the outstanding borrowing as on March 31, 2026 will be ₹9,29,959.30 crore, he had pointed out.
In Budget Estimates 2025-26, Debt to Gross State Domestic Product (GSDP) ratio was projected to be 26.07%, well within the target of 28.70% prescribed under the 15th Finance Commission.
As per RBI, total market borrowings by the State governments and Union Territories for April-June quarter 2025 is expected to be ₹2,73,255 crore.
Maharashtra has indicated the highest amount of gross borrowings of ₹50,000 crore for the first quarter of 2025-26, according to ratings firm ICRA. It also said the total borrowing plan of State for the first quarter of 2025-26 is 87.4% higher than the first quarter of 2024-25.
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