Tamil Nadu to borrow ₹51,000cr in Jan-Mar FY26
Tamil Nadu is gearing up to borrow ₹51,000 crore from the open market between January and March 2026, making it the second-biggest state borrower for the quarter, as per RBI data.
This chunk alone is about 10% of what all Indian states plan to borrow in that period.
Earlier in FY26, Tamil Nadu had already borrowed ₹59,300 crore through State Development Loans (SDLs) from April to October, coming just after Maharashtra.
How other states stack up—and why it matters
Karnataka is set to top the charts with ₹93,000 crore in SDL borrowing for the January-March 2026 quarter.
These loans help states fund their projects but also highlight how much they depend on borrowing to meet their spending goals.
For Tamil Nadu especially, hitting revenue targets has been tough lately—while tax collections are up compared to last year, capital spending is lagging behind plans.