With more borrowings, Punjab may end year with higher debt

Of the ₹30,464 crore projected in the 2024-25 budget estimates, state has already borrowed 99% of the amount between April-Jan

- Navneet Sharma

CHANDIGARH: Punjab has planned to borrow ₹9,847 crore in the fourth quarter and may end the financial year 2024-25 with a higher outstanding debt than estimated in the state budget. The state government, which raises money from the market through the auction of government securities, has already taken a loan of ₹3,400 crore in the month of January. The remaining ₹6,447 crore is to be raised in February and March as indicated in the borrowing calendar shared by the state government with the Reserve Bank of India (RBI).