Chandigarh, Jan. 4 -- Amid growing fiscal challenges, the Punjab government is likely to borrow Rs.12,006 crore in the last quarter of the 2025-26 financial year. The state government has indicated its borrowing plan for the January-March period to the Reserve Bank of India (RBI), with the funds to be raised from the open market through the sale of state securities. According to its borrowing calendar, Rs.3,000 crore will be raised in January, Rs.4,000 crore in February, and Rs.5,006 crore in March. Punjab's borrowing accounts for about 2.4% of the record sum of Rs.4.99 lakh crore to be raised by states and union territories in this quarter through bond sales.

'Borrowing within approved limit'

In its budget estimates for the current fis...