Andhra Pradesh to Raise Rs 10,000 Crore via Securities Auction

Andhra Pradesh plans to raise an additional Rs 10,000 crore through selling state government securities in open market auctions from October to December. As of August, the state's borrowings reached Rs 55,901.43 crore, while its fiscal deficit stood at Rs 55,016.84 crore.

Andhra Pradesh is set to raise Rs 10,000 crore by auctioning state government securities in the open market during the final quarter of the year, as outlined in the state's market borrowing calendar.

The state had earlier generated Rs 1,900 crore through a bonds auction on October 7.

According to the Reserve Bank of India's calendar, Andhra Pradesh is expected to acquire Rs 5,000 crore on both November 4 and November 25. By August 31, the state's borrowings stood at Rs 55,901.43 crore, accounting for nearly 70 percent of its estimated budget.