The State Government is continuing its tightrope walk in terms of financial resources to meet its immediate commitments like payments under Rythu Bandhu, Dalit Bandhu and other schemes.
The Government has decided to raise ₹10,200 crore through the sale of securities conducted by the Reserve Bank of India during the second quarter of the current financial year from July to September.
Accordingly, the Government raised ₹2,000 crore open market borrowings on July 4 and this will be followed by ₹1,000 crore each during the auctions conducted by the RBI on July 18 and August 1. The Government will raise ₹2,000 crore on August 14, ₹1,000 crore (August 29 and September 5), ₹1,200 crore (September 12 and ₹1,000 crore (September 21) market borrowings for the second quarter, according to the indicative calendar of the RBI.
The Government planned to raise ₹12,500 crore during the first quarter but raised ₹12,000 crore. The Union Finance Ministry has fixed the borrowing ceiling for the State for the current fiscal at ₹42,225.17 crore, including ₹36,617.35 crore from open market.
The Government opted for negotiated loans of ₹1,500 crore and estimated borrowing from the public account is pegged at ₹4,107.82 crore. The Finance Ministry said the ceiling was fixed after adjusting over borrowing of ₹15,588.82 crore of the previous years.
Meanwhile, revenue receipts during the first two months of the fiscal registered slow pace of growth forcing the State Government to depend on financial accommodation provided by the RBI. The State has raised ₹652.62 crore through special drawing facility for 27 days in April and the amount drawn under the ways and means advances was ₹932.63 crore for 21 days the same month. The Government also utilised overdraft facility for six days raising ₹285.82 crore durinfg the month.
