PANJIM: With Goa’s financial condition in a precarious position, the government will borrow another Rs 200 crore on May 26 by selling bonds.
The State has issued a notification for the sale of stock worth Rs 200 crore on May 26.
The notification issued by Finance Secretary Daulat Hawaldar states, “Government of Goa hereby notifies the sale of Goa Government Stock (Securities) of 10-year tenure for an aggregate amount of Rs 200 crore (nominal).”
It adds, “The proceeds of the loans will be utilised for financing capital expenditure in connection with the development programmes of the Government of Goa.” It also states, “Consent of Central Government has been obtained to the floatation of this loan as required by Article 293(3) of the Constitution of India.”
As per the Budget documents, the State has already availed loan in excess of Rs 2,500 crore up to December 2019. The total debt of the State has increased above Rs 15,000 crore as per the budget figures.