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The Andhra Pradesh Government will issue bonds to mobile Rs 22,000 crore during 2012-13.
According to an official in the Finance Department, the State Government has obtained necessary approval from the Reserve Bank of India in this regard. Purpose of the fund-mobilisation is to overcome the deficit in the State Budget for the current financial year.
Meanwhile, the Reserve Bank of India has announced that it would conduct the auction for the sale of 10-year state development loans of three states — Andhra Pradesh, Haryana and Punjab for an aggregate amount of Rs 2,850 crore on April 10.
An amount of Rs 1,500 crore has been notified for Andhra Pradesh followed by Rs 650 and Rs 700 crore for Haryana and Punjab, respectively.
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