Shimla, June 1 -- The cash-strapped Himachal Pradesh government will take loan by selling government stock (securities) worth Rs.800 crore for carrying out development works of the state. A notification regarding this was issued by the state finance department and published in the official gazette on Friday.

An auction in this regard would be held by the Reserve Bank of India (RBI) at Mumbai on June 3 and the successful bidder would have to make the payment by June 4, an official said.

The state government has a debt of Rs.1.03 lakh crore though the Sukhvinder Singh Sukhu-led Congress government in the state has been blaming the BJP for "financial mismanagement and pushing the state into debt trap".

The committed liability of the gover...