The West Bengal government raised Rs 2,500 crore through the RBI auction window at a coupon rate of 6.79 percent,'' a CARE Ratings analyst said.
According to per official data, the West Bengal government raised Rs 10,500 crore in the first quarter of the current financial year through auctions of state securities and state development loans. The state government raised Rs 10,000 crore in the same period last year. The amount raised in the current quarter through the auction conducted by the RBI was below the estimate of Rs 14,000 crore provided by the state government.
Meanwhile, 20 states and a Union Territory raised a total of Rs 1,44,550 crore in Q1 FY22. The borrowings by the state governments in the quarter under review have been 14 per cent less than that in Q1 FY21, CARE Ratings said in a note.
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