Team Herald
PANJIM: The State government has notified the sale of Goa Government Stock (Securities) of 10-year tenure for an aggregate amount of Rs 200 crore.
The auction will be conducted by Reserve Bank of India, at its Mumbai Office on Tuesday. The result of the auction shall be displayed by RBI on its website the same day. The payment by successful bidders will be on Wednesday.
As per Principal Secretary (Finance) Puneet Kumar Goel, the loan will be repaid at par on September 08, 2031. The proceeds of the loans will be utilised for financing capital expenditure in connection with the development programmes of the State government, Goel added.
In June the State had put up stock worth Rs 100 crore for sale.
Chief Minister Pramod Sawant in his budget speech, had stated that the Central Government, had allowed an additional borrowing of 2 per cent of the Gross State Domestic Product (GSDP) for the financial year 2020-21 and that the fiscal deficit maintained for the current fiscal year is at 2.96 per cent of GSDP. He had added that GDSP estimates for the financial year 2021-22 is estimated at Rs 89,421.61 crore and that the net expenditure for the year 2021-22 has been estimated at Rs 21, 646.68 crore.
