STATES
States borrow 43.5% more in 9 months
- IBJ Bureau
- Dec 30, 2020
At
Rs 5,55,900 crore, the States, whose finances have been ravaged by the
pandemic, have snapped up as much as 43.5 per cent more debt from the market
during the first nine months of the current fiscal. According to an analysis by
rating agency ICRA, States had borrowed Rs 3,87,400 crore in the first nine
months of FY20. What is significant is that over 65 per cent of these Rs 5.55
lakh crore borrowings have been lapped up by just five, top-borrowing States –Maharashtra,
Karnataka, Tamil Nadu, Andhra Pradesh and Telangana – during these months.
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