With a severe dip in revenues during the lockdown, market borrowings by state governments doubled to over Rs 1.26 trillion from April to early June (Rs 60,000 crore in the same period last year). The governments — state and union territories — have had to increasingly resort to borrowings to meet funding exigencies, owing to severe revenue shortfall caused by the shutdown, said CARE Ratings.
Both Central and state governments have seen a notable increase in market borrowings since the start of FY21. However, the cost of borrowings (higher yields) has ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
First Published: Thu, June 04 2020. 21:40 IST
