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.
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