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Karnataka: Off-budget borrowings decline by Rs 400 cr.
BANGALORE, April 1. OFF-Budget borrowings of Karnataka have reduced by about Rs 400 crore for the current fiscal year. These borrowings are outside the purview of the State Government Budget.
The off budget borrowings are essentially done by State public sector undertakings (SPSU), including electricity utilities and special purpose vehicles created by the States. For the current fiscal year, these borrowings are estimated to be in the region of about Rs 1,480 core as against Rs 1,885 crore in the last fiscal year. Almost, the entire quantum of the off budget borrowings are in the form of privately placed bond issues, with financial institutions, insurance companies …
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