HYDERABAD: The state government is likely to raise Rs 7,400 crore through market borrowings in the third quarter (October to December) of 2024-25.
After the state government submitted its indent, the Reserve Bank of India (RBI) announced the indicative calendar of market borrowings by Telangana for the third quarter.
As per the RBI, the government would raise Rs 4,400 crore in October, Rs 2,000 crore in November and Rs 1,000 crore in December on seven different dates.
The government proposed to raise Rs 2,000 crore on October 1, Rs 1,400 crore on October 8 and Rs 1,000 crore on October 22. Similarly, the government intends to raise Rs 1,000 crore each on November 5, November 26 and again on December 17.
The RBI stated that the actual borrowings and details of the states participating would be intimated two to three days prior to the auction day and would depend on the requirement of the state government, approval from the Union government under Article 293 (3) of the Constitution, and the market conditions.
It said: “RBI would endeavour to conduct the auctions in a non-disruptive manner, taking into account the market conditions and other relevant factors and distribute the borrowings evenly throughout the quarter. RBI reserves the right to modify the dates and the amount of auction in consultation with State Governments/UTs.”