India central bank recommends raising advances limits for state governments

RBI Panel Warns States’ Q4 Borrowing Rush May Raise Debt Costs

Get latest articles and stories on Business at LatestLY. States concentrating a large part of their annual market borrowing in the January-March quarter could push up borrowing costs for all states, an RBI-appointed committee has said, calling for borrowings to be spread more evenly through the year. Business News | RBI Panel Warns States’ Q4 Borrowing Rush May Raise Debt Costs.

Panel proposes raising RBI's ways and means advances corpus by 11.2% to Rs 67,839 crore

The panel has also recommended an annual review of the WMA corpus capping annual upward revision at 4%. The extent of upward revision could be based on the last three years of accounts while there would be no reduction in the existing limit.

RBI panel recommends 11.2% hike in WMA limit for states

The proposed revision follows an analysis of states’ fiscal parameters, with revenue receipts identified as a more appropriate basis for calculation

India central bank recommends raising advances limits for state governments

Sept 29 (Reuters) – India’s central bank-appointed panel on Tuesday proposed raising the aggregate ways and means advances limit for state governments to 678.39 ​billion rupees ($7.07 billion) from the current 610.08 billion ‌rupees, while recommending measures to strengthen states’ cash management practices. Here are the details: • The panel recommended that states spread market borrowings more evenly through the year and avoid a concentration …