Thiruvananthapuram: For the first time this financial year, the state is borrowing Rs 3000 crore through debentures of the Reserve Bank of India in a bid to meet expenses.  

Meanwhile, the Centre has set the state's overall borrowing limit for the current fiscal year at Rs 37,512 crore. After the Centre decides on the state's borrowing limit for the fiscal year, the state is allowed to borrow for the first nine months.

Although Kerala had requested approval to borrow Rs 5000 crore, the Centre approved only Rs 3000 crore.