Illustration: Ajay mohanty
The West Bengal government
raised Rs 10,500 crore in the first quarter of the current financial year through auctions of state securities
and state development loans, as per official data.
The state government raised Rs 10,000 crore in the same period last year.
The amount raised in the current quarter through the auction conducted by the Reserve Bank of India was below the estimate of Rs 14,000 crore provided by the state government.
"On Tuesday, the West Bengal government raised Rs 2,500 crore through the RBI auction window at a coupon rate of 6.79 per cent," a CARE Ratings analyst said.
Meanwhile, 20 states and a Union Territory raised a total of Rs 1,44,550 crore in Q1 FY22.
The borrowings by the state governments in the quarter under review have been 14 per cent less than that in Q1 FY21, CARE Ratings said in a note.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.