HYDERABAD: The state government is likely to raise Rs 3,000 crore through market borrowings in fourth quarter (January to March) of FY 2024-25. After the state government submitted its indent, the Reserve Bank of India (RBI) announced the indicative calender of marker borrowings by the state government for the fourth quarter.
As per RBI, the government would raise Rs 10,000 crore each month from January to March on 12 different dates.
The government proposed to raise Rs 3,000 crore on January 7, Rs 2,000 crore on January 14, Rs 2,500 crore each on January 21 and 28. Similarly, the government intends to raise Rs 3,000 crore on February 4, Rs 2,000 crore on February 11 and Rs 2,500 crore each on February 18 and 25. It would borrow Rs 3,000 crore on March 4, Rs 2,000 crore on March 18, and Rs 2,500 crore each on March 11 and 25 .
RBI stated that the actual amount of borrowings and details of the states participating would be intimated two to three days prior to the actual auction day and it would depend on the requirement of the state government, approval from the Union government under Article 293 (3) of the Constitution of India and the market conditions.
“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,” it said.