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Borrowing plan in Q1 of 2025-26
April 11 , 2025
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- Tamil Nadu government plans to borrow ₹20,000 crore in the first quarter of fiscal 2025-26.
- It was according to the indicative market borrowings schedule of States released by the Reserve Bank of India (RBI).
- The States including Tamil Nadu raise funds through issue of bonds known as State Development Loans (SDLs).
- The auction for the bonds is conducted by the RBI.
- The bonds are issued for various tenures and States have to repay the principal along with interest on maturity.
- The estimates for receipt and repayment of borrowings have been finalised on the basis of overall borrowing ceiling fixed by the Government of India.
- Tamil Nadu government plans to borrow a total amount of ₹1,62,096.76 crore during 2025-26 and make repayment of ₹55,844.53 crore.
- As a result, the outstanding borrowing as on March 31, 2026 will be ₹9,29,959.30 crore.
- In Budget Estimates 2025-26, Debt to Gross State Domestic Product (GSDP) ratio was projected to be 26.07%.
- It was well within the very target of 28.70% prescribed under the 15th Finance Commission.
- In fiscal 2024-25 (till January), Tamil Nadu’s gross market borrowings stood at ₹88,025 crore as per RBI data.
- After adjusting for repayments, the net borrowing was ₹60,175 crore
- Maharashtra has indicated the highest number of gross borrowings of ₹50,000 crore for the first quarter of 2025-26.
- Bihar, Gujarat, Maharashtra, West Bengal and Uttar Pradesh account for nearly three-fourths of the incremental borrowings for first quarter of 2025-2026.
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