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Tamil Nadu’s gross market borrowings
August 28 , 2023
456 days
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- Tamil Nadu’s gross market borrowings increased to ₹25,000 crore in the first quarter of fiscal 2023-24.
- It was ₹8,000 crore in the same period last year.
- After adjusting for repayments, the net borrowings stood at ₹17,000 crore in April-June 2023 period.
- It was ₹5,528 crore in April-June 2022.
- State borrows from the market through the auction of bonds known as State Development Loans (SDL).
- The Centre has fixed a borrowing ceiling for the States.
- States can borrow up to 3% of their Gross State Domestic Product (GSDP) for 2023-24.
- An additional borrowing of 0.5% of GSDP is allowed for fulfilment of power sector reforms.
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