UT Govt to Raise Rs 100 Crore Loan

Published: 10th June 2014 09:21 AM  |   Last Updated: 10th June 2014 09:21 AM   |  A+A-

PUDUCHERRY: The Territorial government has decided to raise a loan of `100 crore through the open market to support the budgetary expenditure in the current financial year.

The loan will be raised through auction of its stock to be conducted by Reserve Bank of India in Mumbai on June 10, according to  a press release from Finance Secretary, Chandraker Bharati.

This would be the first open market borrowing by the government in the current fiscal.

The accumulated debt of the Union Territory is estimated to be around `6,509 crore with an annual interest commitment of about `640.69 crore.

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