Team Goemkarponn
PANAJI: Goa has raised Rs 500 crore through government securities in September, with the State returning to the market for funds on four occasions during the month.
Data published by the Reserve Bank of India (RBI) shows that the State raised Rs 100 crore each on September 8 and September 15. It followed this up with two larger borrowings of Rs 150 crore each on September 18 and September 22.
The September borrowing marks a significant change from the position at the end of August, as RBI records show that Goa had not raised funds through market borrowing until August 31.
The fresh loans also come against the backdrop of the government’s earlier stated focus on containing its dependence on open-market borrowing and strengthening its fiscal position. During the recent Assembly session, Chief Minister Pramod Sawant had said the government was concentrating on fiscal discipline, revenue generation and better management of its debt.
For the current financial year, Goa has been permitted to borrow up to Rs 3,700 crore from the market.
Meanwhile, the State’s existing debt obligations continue to put pressure on its finances. Goa paid Rs 1,103 crore towards principal and interest during the first quarter of 2026-27.
The repayment requirement is expected to grow in the years ahead. RBI estimates show that Goa will have to meet repayments of Rs 1,320 crore in 2026-27, followed by Rs 1,800 crore in 2027-28 and Rs 2,350 crore in 2028-29. The projected requirement rises further to Rs 2,600 crore in 2029-30 and Rs 3,300 crore in 2030-31.
The RBI has, meanwhile, urged States to carefully assess their borrowing needs, strengthen fiscal consolidation measures and improve cash management.
