the goan I network
PANAJI
In a bid to off-set criticism over the State’s bulging debt portfolio and the government’s borrowing spree, Chief Minister Pramod Sawant said, there’s nothing to worry as the State maintains with the Reserve Bank of India a Consolidated Sinking Fund (CSF) and the Guarantee Redemption Fund (GRF) which between them have accumulated over Rs 900 crore thus far. He none-the-less admitted in his budget speech that repayment costs of debts taken ten years ago occupy a “growing proportion” of committed expenditure and added that the CSF and GRF buffers for repayment of debt liabilities.
As of March 31 this year, the corpus of the CSF stands at Rs 603.54-crores and the corpus of the GRF is 303.90-crores and lying with the RBI, Sawant added.
