State Governments to raise Rs 35,113 cr in FY'07-08: RBI

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Mumbai, Sep 12 (UNI) The State Governments are expected to raise Rs 35,113 crore under the market borrowing programme, taking into account net allocation, additional allocation to a few State Governments' and repayments during the financial year 2007-08.

According to an estimated figures released by the Reserve Bank of India (RBI) here today, so far 17 state governments have raised Rs 12,026 crore through the sale of their state development loans (SDLs) through the auction method till today.

Accordingly, the State Governments are expected to raise the balance amount of Rs 23,087 crore during the remaining part of the year 2007-08 in a phased manner.

The State Governments and RBI will have the flexibility to bring about modifications in the borrowing, keeping in view the emerging requirements of the State Governments, market conditions and other relevant factors, the RBI release said.

UNI

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