Himachal Pradesh to raise ₹1,500cr through government securities
Himachal Pradesh is set to raise ₹1,500 crore by selling government securities, hoping to give its development projects a much-needed push.
According to notifications issued from the office of Secretary (Finance) Abhishek Jain this week, the funds will be collected through RBI's E-Kuber platform as the state tries to manage its hefty debt of over ₹1 lakh crore.
Fund utilization and repayment schedule
The money will be split into two parts: ₹500 crore in 10-year securities and ₹1,000 crore in 15-year securities—both auctioned by RBI's Mumbai office.
Repayment is scheduled for August 28, 2035 and August 28, 2040, with interest paid every six months.
The central government has already cleared the plan under Article 293(3), so all funds are set to go straight into state development programs.