GOA: The stock will be auctioned through the Reserve Bank of India’s (RBI) Mumbai office on May 26 with the interest rate being determined by the RBI.
The Goa government will borrow Rs 150 crore through sale of 10-year Goa government stock (securities) on May 26. So far, the state government has borrowed Rs 2600 crore. The proceeds of this loan too will be utilized for financing capital expenditure pertaining to development programmes, Goa finance secretary Dr Sharat Chauhan said.
This year so far, state government had borrowed Rs 200 crore. During the 2012-13 financial year, the state government borrowed Rs 800 crore from its sanctioned borrowing of Rs 1,300. During the 2013-14 financial year, the state borrowed Rs 800 crore from the sanctioned borrowing of Rs 1,400 crore and during the 2014-15 financial year, the state borrowed Rs 800 crore from the sanctioned borrowing of Rs 1500 crore.
The stock will be auctioned through the Reserve Bank of India’s (RBI) Mumbai office on May 26 with the interest rate being determined by the RBI.
