PANAJI
The State government is seeking to raise Rs 100 crore by way of the sale of 15-year tenure securities through the Reserve Bank of India to fund its capital expenditure.
The State had raised a similar amount on September 6, but a senior finance department official insisted the borrowing is well within limits and voted for in the budget by the legislature.
In the recent monsoon session, the Goa legislative assembly amended the Goa Fiscal Responsibility and Budget Management Act and raised the State's borrowing limit to 4 per cent of the Gross State Domestic Product.
Thus the annual upper borrowing limit for the State is pegged at Rs 3,600 crore, which is around Rs 300 crore per month, the official said.
