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Andhra Pradesh, Telangana Map Q3 Bond Sales Under RBI Calendar

The plans reflect rising fiscal pressure this year, prompting BRS criticism of Telangana’s debt strategy.

Overview

  • The RBI’s Oct–Dec schedule shows Andhra Pradesh targeting ₹10,000 crore in market borrowings, with ₹1,900 crore raised on October 7 and ₹5,000 crore auctions slated for November 4 and November 25.
  • Andhra Pradesh has used about 70% of its FY26 borrowing envelope by August 31 at ₹55,901.43 crore, while its revenue deficit widened to ₹41,635.63 crore versus a ₹33,185.97 crore budget estimate.
  • Telangana plans ₹9,000 crore of sales this quarter, split as ₹2,000 crore each in October and November and ₹5,000 crore in December, per the RBI’s indicative calendar.
  • By August 31, Telangana’s borrowings totaled ₹33,415.15 crore, or nearly 62% of its ₹54,000 crore limit for FY26.
  • The BRS accused the Congress government of pushing Telangana into a debt trap, citing ₹6,000 crore borrowed in September and ₹15,500 crore raised in the previous month through bonds.