Loans from state governments will be lower by Rs 50,000 crore in the first quarter

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The government of India released a substantial Rs 8.8 trillion to the states in FY22, compared to Rs 7.4 trillion in the revised estimates for FY22.

The state government borrowings through the security market could be lower by Rs 50,000 crore in Q1Fy23 at Rs 1.4 trillion, as indicated by rating agency ICRA. During Apr 1-May 2 FY2023, just Andhra Pradesh (Rs 44 billion), Maharashtra (Rs 40 billion), Punjab (Rs 25 billion) and Haryana (Rs 15 billion) raised through State Development Loans (SDL). Together, they acquired Rs 124 billion, around 82 percent lower than the Rs 672 billion that upwards of 19 states had initially indicated for this period.

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