Tamil Nadu has borrowed ₹9,000 crore so far in fiscal 2021-22
The Hindu
Tamil Nadu has so far raised ₹9,000 crore for fiscal 2021-2022 through market borrowings, according to data from Reserve Bank of India.The state has indicated that it plans to borrow ₹23,450 crore dur
Tamil Nadu has so far raised ₹9,000 crore for fiscal 2021-2022 through market borrowings, according to data from Reserve Bank of India. The state has indicated that it plans to borrow ₹23,450 crore during the first quarter of this fiscal (April-June 2021). This is less than the ₹28,000 crore borrowed in the first quarter of fiscal 2020-21. However, amid intense lockdowns to fight the second wave of COVID-19, states including Tamil Nadu have to borrow more, according to rating firms. Tamil Nadu has been raising money through the issue of bonds, known as State Development Loans (SDLs). Interestingly, the State has raised ₹6,000 crore or nearly 66.7% of its total borrowings so far this year through long tenure bonds of 30 years or more.
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