PUNJAB GOVT TO BORROW ₹14K CR

OCT-DEC QUARTER

CHANDIGARH: The Punjab government has planned to borrow ₹14,700 crore in the third quarter (October to December) of the financial year 2022-23.

The state government has indicated the tentative quantum of market borrowings during the three-month period to the Reserve Bank of India (RBI).

The funds – ₹4,400 crore in October, ₹5,800 crore in November and ₹4,500 crore in December, are to be raised through the sale of government securities, mostly having tenure of 20 years, through auction, according to the state’s market borrowing plan released by the central bank in consultation with the Punjab government