Shimla, Aug. 23 -- The Himachal Pradesh Government has announced the sale of state government securities worth Rs 1,500 crore through the Reserve Bank of India (RBI), adding to its rising debt burden that has already crossed Rs 1 lakh crore.
According to notifications issued by the Finance Department on August 21, the state would float two separate loans - securities of 10-year tenure worth Rs 500 crore and 15-year tenure worth Rs 1,000 crore. Both would be auctioned by RBI's Mumbai office through the electronic bidding platform E-Kuber.
The proceeds, the government clarified, would be used for the state's development programmes. Repayment dates have been fixed for August 28, 2035 (10-year stock) and August 28, 2040 (15-year stock). Inter...