State’s net market borrowings go down by 30.3%
- Tamil Nadu’s net market borrowings (after adjusting for repayments) have been down by about 30.3% (₹24,403 crore) till September in FY 2022-23, from ₹35,000 crore in the same period last year, according to data from the Reserve Bank of India (RBI).
- Tamil Nadu borrows from the market through the issue of bonds known as State Development Loans (SDLs).
- The State’s gross borrowings were ₹33,000 crore till September compared with ₹39,000 crore last year. The lower borrowings reflect the improved financial performance of Tamil Nadu in the first half of 2022-23.
- As on September 30, 2022, Tamil Nadu’s fiscal deficit stood at ₹18,726.32 crore and the revenue deficit at ₹4,184.10 crore.
