Telangana finally gets to raise Rs 4,000 crore FRBM loan this year

Telangana finally got to raise Rs 4,000 crore loan under Fiscal Responsibility and Budget Management Act (FRBM) on Tuesday.

Published: 08th June 2022 04:52 AM  |   Last Updated: 08th June 2022 04:52 AM   |  A+A A-

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By Express News Service

HYDERABAD:  Telangana finally got to raise Rs 4,000 crore loan under Fiscal Responsibility and Budget Management Act (FRBM) on Tuesday. The State government raised Rs 4,000 crore at 8.02 per cent interest rate for a tenure of 13 years. This was the first time that the State government went in for open market borrowings this financial year.  The Ministry of Finance did not allow the State to raise loans in the first two months of this financial year. However, there is no clarity yet on the quantum of loan the State would be allowed to raise in the financial year. The State government proposed to raise Rs 53,000 crore loan in the Budget 2022-23.

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