Gujarat government to auction state securities worth Rs 1500 crore
Ahmedabad, 5 February, 2012
Gujarat Government today in a statement said it would sell state government stock securities worth Rs 1,500 crore with a holding period of 10 years to fund development programmes and schemes included in the annual development plan (ADP) for 2011-2012.
The auction of the stock securities will be conducted by the Reserve Bank of India (RBI) on February 7, Additional Secretary to the Gujarat Finance Department, Manish Verma, said.
In recent years, the state’s public debt has mounted to Rs 1,13,125 crore as on 31 March, 2011, which the government says is being utilised for “developmental activities and in creation of productive assets”.
Besides the staggering liability, the state government has also extended guarantees on behalf of the state-owned entities and various statutory bodies.
With stringent financial and administrative measures, the government has reduced its outstanding guarantees from Rs 19,001 crore at the end of 2002-03 to Rs 8,824 crore as on March 31, 2011, the release added.
The state government in 1999-2000 had constituted a consolidated sinking fund (CSF) for redemption of the debt raised from the open market borrowings, the hand out said, adding the balance in CSF stood at Rs 5,922 crore as on March 31, 2011.
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Can you share the detailed information, like
1) Accept, total debt is more that 1L crore, but differentiate it with open market borrowing and central govt borrowing (PF ) etc with interest rates.
2) Compare above with before 2001 before situation.
3) How much we are paying as interest only starting from 1990s every year to open market and central govt.
4) How plan and nonplan allocation ration starting from 1990s
5) Compare all above things with other states.
I have started collecting the information, but you might have most of this on hand or can avail it from ur sources. This will present the true picture of state govt doings.
Regards,
Himanshu Acharya
Hims30482.blogspot.com
This is truly amazing. Of bringing Government development schemes, spending, monitoring and collection under the purview of SEBI (a more thorough independent agency). Suddenly Govt. will be subjected to rating in open market. जय श्री राम!