Telangana

State to raise ₹ 1,050 cr through sale of securities

The State government has decided to raise another ₹ 1,050 crore from the Reserve Bank of India by sale of securities to meet its immediate financial requirements.

The government did not opt for the green shoe option so far as it has been doing since the past couple of months, but the tenure of the loan remained at 30 years. The government has bid for the amount which will be mobilized through auction of securities. The auction, to be held through e-Kuber platform of the RBI, will be held on Tuesday and payment by successful bidders would be made the next day.

Meanwhile, the Central government informed that Telangana’s share of Central taxes has been fixed at ₹ 11,731.76 crore for the current financial year according to the revised estimates. Of the total quantum, the Centre had released ₹ 7,927.1 crore to the State till December and the releases were to the tune of ₹ 9,473.89 crore till February-end.

The releases of States’ share/tax devolution was as per the accepted recommendations of the Finance Commission for its award period. Of the ₹ 5.49 lakh crore devolution to States as per revised estimates, the Centre has released ₹ 4.44 lakh crore till February, Union Minister of State for Finance Anurag Singh Thakur said in reply to a query in Parliament. He was responding to a query on the amount of Central taxes which were shared/divided between the Centre and State governments.

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Printable version | Apr 12, 2021 2:20:02 AM | https://www.thehindu.com/news/national/telangana/state-to-raise-1050-cr-through-sale-of-securities/article34020490.ece

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