Chandigarh, Feb. 22 -- Punjab has planned to borrow Rs.9,847 crore in the fourth quarter and may end the financial year 2024-25 with a higher outstanding debt than estimated in the state budget.

The state government, which raises money from the market through the auction of government securities, has already taken a loan of Rs.3,400 crore in the month of January. The remaining Rs.6,447 crore is to be raised in February and March as indicated in the borrowing calendar shared by the state government with the Reserve Bank of India (RBI).

With this, the government is likely to end the year with a higher outstanding debt than the amount of Rs.3.74 lakh crore indicated in the state budget. The state government has already raised a loan of Rs....