Maharashtra Deputy chief minister and Finance minister Ajit Pawar (File)The state Finance Department has decided to raise a loan of Rs 2,000 crore to fund the developmental programmes of the state.
The government stock, up to 10 per cent of the notified amount of the sale, will be alloted to eligible individuals and institutions subject to 1 per cent of the notified amount for a single bid.
From May 1, 1960, the state has raised loans worth Rs 3,55,612 crore, of which Rs 2,89,427 crore is outstanding.
A press note issued by the Finance Department says that as per the recommendation of the10th Finance Commission, the state has constituted a consolidated sinking fund from 1999-2000 for redemption of debt arising from open market borrowing. This fund is operated by RBI and a provision of Rs 4000 crore has been made from 2021-22.
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