Karnataka Govt. borrows ₹16,000 cr. this quarter
The Hindu
In the third quarter of 2021–22, the Karnataka Government raised ₹16,000 crore State Development Loans (SDLs) through market borrowings to meet its development and non-developmental expenditure.The Go
In the third quarter of 2021–22, the Karnataka Government raised ₹16,000 crore State Development Loans (SDLs) through market borrowings to meet its development and non-developmental expenditure.
The Government raised these loans through RBI between October 5 and December 14. The rate of interest ranges from 4.73% to 6.89%, depending on the duration of loans from two years to 11 years. Besides Karnataka, many States raised loans in different phases for management of expenditure, the RBI said.
The Government raised these loans owing to the revenue shortfall during the first and second quarters, largely owing to the lockdown and restricted economic activities.
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