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Representative Image | File Photo: G Shivaprasad /Mathrubhumi
Thiruvananthapuram: Kerala government will borrow Rs 1,500 crore more, thus adding to the state’s borrowing this fiscal year, which is at Rs 11,436 cr.
The borrowing is within the limit prescribed by the union government. However, union government earlier shelved the state’s borrowing limit. As a result the government can only borrow Rs 17,936 cr till December. That means, with the present borrowing, the remaining amount within the limit will be around Rs 6,500 crore.
Meanwhile, the state government pins hope that union government will extend the limit after December. If the union government does not take a favourable stand, then the state government apparently will face the heat of financial crunch.
Earlier on October 3, the government had borrowed Rs 1,000 crore to meet revenue expenses. The state then depended on the e-auction of bonds issued through Reserve Bank of India. The same method will be used this time too. The auction will happen on October 25 on E-Kuber platform.
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