Guwahati: For the quarter July-September 2022, the Assam government will borrow in the market amounting to Rs. 6000 crores.

The Reserve Bank of India (RBI) has announced total market borrowings by state governments/UTs for the July-September 2022 quarter. The total amount is expected to be Rs. 2,11,552 crore.

To borrow money from the market, the Government of India issues securities. Auctions are one method by which securities are made available to investors. The government announces the date on which it will borrow a specified amount via auction. Investors bid in terms of interest rate (coupon) for new security or price for existing security being reissued.

The auction dates proposed are July 5, 12, 19, and 26; August 2, 8, 18, 23, and 29; and September 6, 13, 20, and 27.

Assam, Mizoram, Manipur, Meghalaya, Nagaland, and Sikkim are the Northeastern states that have confirmed participation and tentative borrowing amounts.

While Assam has announced a tentative market borrowing of Rs. 6000 crores, the highest in the Northeast, Sikkim has announced borrowings of Rs. 632 crores, followed by Meghalaya at Rs. 350 crores, Nagaland at Rs. 250 crores, Manipur at Rs. 220 crores, and Mizoram at Rs. 170 crores.

The actual amount of borrowings and the details of the participating States/UTs are determined by the requirements of the State Governments/UTs, approval from the Government of India under Article 293(3) of the Indian Constitution, and market conditions.