West Bengal govt raises Rs 10,500 cr in Q1 FY22 via state loan auctions

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, as per official data.

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 Reserve Bank of India was below the estimate of Rs 14,000 crore provided by the state government.

"On Tuesday, the West Bengal government raised Rs 2,500 crore through the RBI auction window at a coupon rate of 6.79 per cent," a CARE Ratings analyst said.

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.